Parliament yesterday unanimously passed the Customs (Amendment) Bill, 2020 after it was read on the floor of the House for the third time.
The objective of the Bill was to amend the Customs Act, 2015 (ACR 891) to provide incentives for automotive manufacturers and assemblers under the Ghana Automotive Manufacturing Development Programme, prohibit the importation of salvaged motor vehicles and specific vehicles over the ten years age into the country.
It is also meant to increase import duty on specific motor vehicles and provide exemptions for the security agencies and officers of the security agencies.
It would be recalled that the government in August 2019 launched the Ghana Automotive Manufacturing Development Programme to promote the manufacture of automobiles for both the domestic market and the West African Sub-region.
The programme was part of the efforts of the government to develop some strategic anchor industries that would promote economic development in the country.
The government in that direction approved some incentives for automotive manufacturers and assemblers who would register under the programme and import exemptions for the security agencies and officers of the security agencies under the bill.
The policy was estimated to cost GH₵802,251 in custom duties and taxes for the first three years and was expected to be partially offset by the additional revenue from custom duties on vehicles not covered by the programme.
BY LAWRENCE MARKWEI
