{"id":298510,"date":"2017-03-02T21:02:27","date_gmt":"2017-03-02T21:02:27","guid":{"rendered":"http:\/\/citifmonline.com\/?p=298510"},"modified":"2017-03-02T21:02:27","modified_gmt":"2017-03-02T21:02:27","slug":"spare-parts-dealers-to-reduce-prices-over-tax-cuts-video","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2017\/03\/spare-parts-dealers-to-reduce-prices-over-tax-cuts-video\/","title":{"rendered":"Spare parts dealers to reduce prices over tax cuts (Video)"},"content":{"rendered":"<p>Consumers of spare parts should expect reduction in prices of goods within the coming months.<\/p>\n<p>The reduction has been necessitated by the abolishing of the levy on imported spare parts.<\/p>\n<p><img loading=\"lazy\" class=\"aligncenter wp-image-69923 size-full\" src=\"http:\/\/citibusinessnews.com\/wp-content\/uploads\/2017\/03\/abossey-1.jpeg\" alt=\"abossey 1\" width=\"600\" height=\"338\" \/><\/p>\n<p>Presenting the first budget by the NPP government in Parliament on Thursday, Finance Minister, Ken Ofori-Atta announced that importers will no more be paying the 1 percent Special Levy on imported goods.<\/p>\n<p>The move has since been met with much excitement from the spare parts dealers operating in the spare parts hub in Abossey Okai in Accra.<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/L1rQcuqDvd4\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>The Chairman of the Spare parts dealers Association, Joseph Paddy told <strong>Citi Business News<\/strong> the taxes accounted for about fifty percent of their cost of products.<\/p>\n<p>A development he explains has adversely affected their profit margins.<\/p>\n<p>He however added that the development should translate into growth and employment creation.<\/p>\n<p>\u201cWe will invest the \u2018surpluses\u2019 in our businesses, expand and employ more people,\u201d he said.<\/p>\n<p><img loading=\"lazy\" class=\"aligncenter wp-image-69925 size-full\" src=\"http:\/\/citibusinessnews.com\/wp-content\/uploads\/2017\/03\/abossey-3.jpeg\" alt=\"abossey 3\" width=\"600\" height=\"338\" \/><\/p>\n<p>Another retailer, who spoke to <strong>Citi Business News<\/strong> said,<\/p>\n<p>\u201cIf the taxes are reduced, purchases will definitely increase since we will reduce our prices\u2026 Currently, some drivers are hesitant to even service their cars due to the high cost as a result of the high taxes.\u201d<\/p>\n<p>&#8211;<\/p>\n<p>By: Pius Amihere Eduku\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Consumers of spare parts should expect reduction in prices of goods within the coming months. The reduction has been necessitated by the abolishing of the levy on imported spare parts. Presenting the first budget by the NPP government in Parliament on Thursday, Finance Minister, Ken Ofori-Atta announced that importers will no more be paying the [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,171,11],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Spare parts dealers to reduce prices over tax cuts (Video) - Citi 97.3 FM - Relevant Radio. 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