Parliament approves removal of duties on spare parts

The house passed the bill despite opposition from the minority who argued that it flouts the country’s constitution.
The Finance Minister, Ken Ofori Atta in the 2017 Budget announced the removal and reduction of some taxes, including duties on spare parts to help reduce cost of doing business in the country.
According to the government, importers and consumers of used and new spare parts would soon start benefiting from the removal.
However, the former Chair of Parliament’s Finance Committee James Avedzi has challenged this claim, insisting the cuts would not be passed onto consumers.




The deputy minority leader James Avedzi speaking to Joseph Opoku Gakpo said, “…if the importer goes the ports and pays less, what’s the guarantee that importer would translate that reduction to the final price so that you and I who go to the market…yesterday, I said it on the floor and they said there is no mechanism to monitor, they said the market is active, the market will react to itself.”
He said, “The government must ensure that, as the importers are not paying the duties, it reduces the price of the spare parts.”

Source:Myjoyonline