The 2017 Budget Statement - List of reviewed and abolished taxes
Government has introduced a number of tax reliefs in the 2017 budget statement and economic policy, the Finance Minister, Mr Ken Ofori-Atta has announced.
List of taxes abolished: 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 17.5% VAT/NHIL on domestic airline tickets Duty on imported spare parts 5% VAT/NHIL on Real estate sales Exercise duty on petroleum
List of reviewed taxes: - Corporate income tax to be progressively reduced from 25% to 20% in 2018 - Replace 17.5% of VAT/NHIL with 3% flat rate for traders - Tax credits and other incentives for businesses that hire young graduates from tertiary institutions - Tax incentives for young entrepreneurs - Reduce special petroleum tax rate from 17.5% to 15%.
Published by GWS Online GH : 2017-03-03 More News Do you have News to share? Simply email us. |
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