The decision by the Akufo-Addo-led government to scrap market tolls imposed on itinerant head porters (Kayayei), as announced by Minister of Finance Ken Ofori-Atta in the government’s first budget statement has really raised a lot of issues and from what the buzz on social media looks like, almost every Ghanaian has something good to look up to from the Akufo-Addo-led administration.
The toll is among several taxes lined up by the government to be scrapped completely or reduced so as to bring relief to the ordinary Ghanaian and the business community.
Apart from the Kayayei market toll, excise duty on petroleum products will also be scrapped. The government also intends to reduce the special petroleum tax rate on petrol from 17.5% to 15%.
Other taxes that will be completely abolished include the following:
1. The 1% special import levy
2. The 17.5% VAT on financial services
3. The 17.5% VAT on selected imported medicines not produced locally
4. The 17.5% VAT on domestic airline tickets
5. The 5% VAT on real estate sales
6. Duty on importation of spare parts
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