Business News of Friday, 3 March 2017
The Association of Ghana Industries (AGI) has called on government to ensure the implementation of incentives promised the business community.
Speaking to Starr Business after the presentation of the 2017 budget statement in Parliament on Thursday, March 2, 2017 by the finance minister, AGI president, James Asare Adjei said previous governments outlined several promises to the business community, but failed to fulfill them.
He is, therefore, appealing to the Akufo-Addo led government to ensure they walk their talk.
“Government has good intentions in the budget captured by way of policies, strategies, plans and programmes but then when it comes to implementation it is [an issue], that is why we want to work closely with government to ensure that we have effective implementation of such policies,” Mr. Adjei said.
The Finance Minister Ken Ofori Atta on Thursday, March 02, 2017 announced major tax cuts in government’s first budget presented to Parliament. The tax cuts are in fulfilment of promises made by the Akufo-Addo-led government ahead of the 2016 elections.
The tax cuts include the scrapping of the 1% Special Import Levy, Kayayei Market Tolls, 17.5% VAT/NHIL on financial services, 17.5 % VAT/NHIL on selected imported medicines, that are not produced locally, Duty on imported Spare parts.