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‘We wholeheartedly support Bawumia’s flat rate importation tax proposal’ — Abossey Okai Spare Parts Dealers

Business & Finance We wholeheartedly support Bawumias flat rate importation tax proposal — Abossey Okai Spare Parts Dealers
FEB 11, 2024 LISTEN

Vice President and NPP flagbearer Dr. Mahamadu Bawumia's proposal for a flat tax rate on imported spare parts has received an endorsement from the Abossey Okai Spare Parts Dealers Association.

In a statement released on Sunday, February 11, the Association said Dr. Bawumia's proposal, announced last Wednesday, will "play a crucial role in safeguarding the interests of spare parts dealerships nationwide."

"We wholeheartedly accept and support Dr. Bawumia's proposal," said the statement signed by Takyi Addo, Head of Communications for the Association.

The group represents hundreds of spare parts dealers operating in the bustling Abossey Okai market in the capital, Accra.

They import and sell auto parts used for vehicles in Ghana.

Currently, import duties on spare parts vary greatly depending on the item.

However Dr. Bawumia has proposed applying a flat and uniform tax rate instead.

The Association believes this will "significantly reduce the cost of spare parts, providing much-needed relief to commercial drivers. Lower costs are then expected to be passed on to passengers in the form of cheaper transport fares."

"This, in turn, will alleviate additional burdens on the commuting public, contributing to a more sustainable and affordable transportation system," Takyi Addo stated in the release.

The Association has pledged to support the implementation of the flat tax should the New Patriotic Party break the eight-year cycle and retain power after elections later this year.

Read the full statement below:
FOR IMMEDIATE RELEASE
11 February 2024
Abossey Okai Spare Parts Dealers Association Commends Dr. Mahamadu Bawumia's Proposal for Flat Rate Tax on Spare Parts Imports

The Abossey Okai Spare Parts Dealers Association expresses its heartfelt appreciation for the visionary proposal put forth by Dr. Mahamadu Bawumia, the New Patriotic Party's presidential aspirant, to implement a flat rate tax on the importation of spare parts into the country.

The Association views this initiative as highly commendable and believes it will play a crucial role in safeguarding the interests of spare parts dealerships nationwide.

As an apolitical organization dedicated to the development and enhancement of the spare parts dealership industry, we wholeheartedly accept and support Dr. Bawumia's proposal.

We eagerly anticipate the timely implementation of this policy, contingent upon the New Patriotic Party's success in breaking the eight-year political jinx come December 7, 2024.

During a forum held on Wednesday, 7th February 2024, in Accra, the Vice President, also the flagbearer of the NPP, announced the party's commitment to introducing a flat rate tax on spare parts imports.

The Association is committed to collaborating with relevant stakeholders to ensure the seamless implementation of this beneficial tax structure.

The proposed flat rate tax is poised to significantly reduce the cost of spare parts, providing much-needed relief to commercial drivers who routinely factor these expenses into transport fares.

This, in turn, will alleviate additional burdens on the commuting public, contributing to a more sustainable and affordable transportation system.

We call upon all members of the Abossey Okai Spare Parts Dealers Association to rally behind the introduction of the flat rate tax on spare parts imports.

By uniting in support of this initiative, we can collectively contribute to the growth and prosperity of the spare parts dealership industry while fostering positive developments in the broader economic landscape.

The Association expresses its gratitude to Dr. Mahamadu Bawumia for his foresight and commitment to the welfare of the spare parts sector, and we look forward to witnessing the positive impact of this policy on our industry and the nation as a whole.

For media inquiries, please contact:
Takyi Addo
0244369057
Head of Communications

Isaac Donkor Distinguished
Isaac Donkor Distinguished

News ReporterPage: IsaacDonkorDistinguished

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