Business News of Monday, 11 November 2019Source: Myjoyonline.comRemove 2% Special Import Levy in 2020 budget – Employers AssociationGEA says the Levy is adding to the cost doing business in the countryThe Ghana Employers Association (GEA) says the 2% Special Import Levy (SIL) be removed as part of government's tax initiatives in the 2020 budget. Employers understand that the Special Import Levy Act, 2013 (Act 861) (“SILA”), which was introduced in 2013 to impose a 1% to 2% levy on the importation of specified goods, was meant to raise funds to stabilize the economy up to 2015. "Employers hoped that the Special Import Levy (SIL) would end in 2015 as specified by the Act. However, its continuous extension up to date is adding up to the cost of doing business in the country,” GEA said in a statement. The Special Import Levy (Amendment) Bill, 2017 amended the Special Import Levy, Act, 2013 (Act 861) to remove the levy payable on specific imported goods.

Source: GhanaWeb November 11, 2019 12:04 UTC