Gov’t to introduce new VAT incentives for local vehicle assembly

President John Dramani Mahama has announced plans to introduce new VAT incentives for vehicle assembly companies in Ghana. The revised incentive framework, finalised by the Ministries of Finance and Trade and Industry, will require firms to meet specified local production thresholds before they can benefit from tax exemptions. Speaking at the commissioning of Phase Three of the Zonda Tec Ghana Limited Vehicle Assembly Plant, Mahama emphasised that the move aims to encourage genuine local manufacturing, add more value to vehicles assembled in Ghana, and prevent companies from importing fully built vehicles and making only minor adjustments locally before presenting them as locally assembled products.

The Finance Minister is expected to provide details of the new incentive package in the upcoming national budget.

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