Member of Parliament for Assin Central, Kennedy Agyapong has revealed that there will be more cuts on import duties in 2019.
Speaking on Adom TV’s Morning Show “Badwam” Tuesday, the outspoken MP said it is important that the economy is stabilized then more cuts will follow.
He said the cut will reduce the cost of imported raw materials to boost local production.
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Government, in 2017, reduced some levies, taxes and import duties to the tune of GH¢1billion.
This followed the amendment of some tax laws which saw the abolishing of nine tax lines and a reduction in the rate of three others.
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Despite the large cuts and reductions, Mr. Agyapong assured that more cuts and reductions should be expected, especially in import duties since government is looking at reducing the percentage customs duty contribute to revenue.
“Let me hint you, import duties will be reduced in 2019 budget and you will understand the NPP very well. We only need to stabilize the economy like we are doing now and when that is done, in 2019, we will reduce import duties” he revealed.
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Mr. Agyapong, however, admitted the economy is going through some trying times but quickly assured Ghanaians that the government is on top of the situation.
“We are not doing badly at all. I must admit that we have difficulties but not in crisis. Sometimes I blame NPP communicators because they are not communicating well on the economy. It’s about time we get people to speak on the economy at every institution and trust me, everything will be fine” he said.