Mobile phone prices are likely to face drastic reduction upon the suspension of Import VAT by Ghana Revenue Authority.
Ghana Revenue Authority has suspended the collection of Import VAT on 64 commodities and this may positively affect the prices of some commodities especially mobile phones.
These 64 commodities include; Mobile phones, electrical transformers, tractors for agricultural purposes, solar cells, musical instruments, outboard motors and other devices.
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A statement signed by the Information Minister, Mustapha Hamid, indicate that, the suspension of the Import VAT and the Fumigation Levy has become necessary as a result of the “unintended hike in import charges.”
The statement added that the decision was agreed on after an extensive consultation between various stakeholders and government.
The suspension of the Import VAT and the Fumigation Levy is believed to drastically reduce the prices of Mobile phones and other listed commodities.
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