Finance Minister,Ken Ofori-Atta has disclosed that as part of moves to promote menstrual hygiene and affordability, all locally produced sanitary pads would now be zero-rated.
“Mr. Speaker, further to the above, the following reliefs have been prioritised for implementation:
- Extend zero rate of VAT on locally manufactured African prints for two (2) more years;
- Waive import duties on the import of electric vehicles for public transportation for 8 years;
iii. Waive import duties on semi-knocked down and completely knocked down Electric vehicles imported by registered EV assembly companies in Ghana for 8 years;
- Extend zero rate of VAT on locally assembled vehicles for 2 more years;
- Zero rate VAT on locally produced sanitary pads;
- Grant import duty waivers for raw materials for the local manufacture of sanitary pads;
vii. Grant exemptions on the importation of agricultural machinery equipment and inputs and medical consumables, raw materials for the pharmaceutical industry;
viii. A VAT flat rate of 5 percent to replace the 15 percent standard VAT rate on all commercial properties will be introduced to simplify administration.
- To address the negative externalities of plastic waste and pollution, The government will review and expand the Environmental Excise Duty to cover plastic packaging and industrial and vehicle emissions,” Mr Ofori-Atta stated.