Vehicle Assemblers Warn of Job Losses Over VAT Exemption Removal in Ghana
#VehicleAssembly #VATGhana #AutomotiveIndustry #GhanaEconomy #ManufacturingGhana #CitiNewsroom #ChannelOneNews #GhanaNews #JobsGhana #IndustrialPolicy
Some global vehicle assembly companies operating in Ghana say production has slowed following the removal of the VAT exemption on locally assembled vehicles.
According to the companies, the continuation of the 20% VAT could force local assemblers to scale down operations, reduce production levels, and potentially lead to the loss of hundreds of skilled engineering and technical jobs.
Industry players are calling for a review of the policy, warning that it could negatively impact Ghana's emerging automotive assembly sector and slow down efforts to build a strong local manufacturing base.
They argue that tax incentives are crucial to sustaining investment, competitiveness, and job creation in the sector.
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