Parliament Amends Special Import Levy Act To Remove Levy On Some Goods


Parliament has amended the special import levy, ACT 2013 to remove the levy payable on specific imported goods. 

Moving for the amendment, the Minister of Finance Ken Ofori-Atta said the purpose is to remove the one percent levy on specific goods.

The chairman of the finance committee of parliament, Mark Asibey Yeboah presented the committees report.

Also amended was the Special petroleum Tax bill. The object of the bill is to Amend the special petroleum tax act, 2014 geared at reducing the rate of the special petroleum tax on petroleum products from 17 point five percent to 15 percent. 

This is in line with plans by government contained in the 2017 budget.

The House also repealed the Customs and Excise petroleum taxes and petroleum related levies Act 2015. 

The rates of Excise duty on petroleum products are now removed. 

The Minister of Finance told parliament that the removal will reduce overlays in the petroleum industry.

GBC