2024 Budget: Check out the 8 tax reliefs by government

The Minister for Finance, Ken Ofori Atta has announced some tax reliefs prioritized by the government for implementation in the 2024 Financial year.

Delivering the 2024 Parliament on November 15 on the floor of Parliament, the Minister announced the reliefs as follows;

“Mr Speaker, further to the above, the following reliefs have been prioritized for implementation;

• To Extend the zero rate of VAT on locally manufactured African prints for two (2) more years;
• Waive import duties on import of electric vehicles for public transportation for a period of 8 years;
• Waive import duties on semi-knocked down and completely knocked down Electric vehicles imported by registered EV assembly companies in Ghana for a period of 8 years;
• Extend zero rate of VAT on locally assembled vehicles for 2 more years;
• Zero rate VAT on locally produced sanitary pads;
• Grant import duty waivers for raw materials for the local manufacture of sanitary pads;
• Grant exemptions on the importation of agricultural machinery equipment and inputs and medical consumables, raw materials for the pharmaceutical industry;
• A VAT flat rate of 5 percent to replace the 15 percent standard VAT rate on all commercial properties will be introduced to simplify administration.” He noted.