The Minister of Food and Agriculture, Bryan Acheampong, has been urged to leverage his security expertise to curb the smuggling of fertilizers to Togo and Burkina Faso.
This advice comes after Parliament approved the Exemptions (Amendment) Bill, 2023, which grants customs duties and taxes waiver for fishing gear and agricultural inputs, leading to estimated exemptions of GH¢442.65 million next year.
Franklin Cudjoe, the Founding President of Imani Africa, expressed hope that the Minister would prevent fertilizer diversion and emphasized the importance of clear tax exemptions, especially for agricultural inputs, in addressing high food inflation.
In response to the tax measures approved by Parliament on December 22, Cudjoe commented on the various exemptions and taxes, urging prudent spending during the festive season.
He highlighted the importance of the Agric Minister, with his security background, ensuring effective distribution and preventing smuggling, as witnessed in the past.
Additionally, he noted the imposition of five new taxes set to take effect on January 1, 2024, and quoted Gideon Tucker’s famous statement about the safety of life, liberty, and property during legislative sessions.
Parliament approved five tax bills, including the Value Added Tax (Amendment) Bill, 2023; Excise Duty (Amendment) (No. 2) Bill, 2023; Stamp Duty (Amendment) Bill, 2023; Emissions Levy Bill, 2023; and Exemptions (Amendment) Bill, 2023.
These bills aim to enhance government revenue, with estimates suggesting GH¢3.725 billion from the VAT Bill, GH¢540 million from the Excise Duty Bill, GH¢653 million from the Stamp Duty Bill, and GH¢541 million from the Emissions Levy Bill for the 2024 financial year.
The Exemptions (Amendment) Bill, 2023, provides waivers for customs duties and taxes on fishing gear and agricultural inputs, contributing to estimated exemptions of GH¢442.65 million next year.
The bill focuses on exempting seeds and fertilizers imported for agricultural purposes under the Planting for Food and Jobs Programme’s phase two.