Tax cuts to lead to automobile hubs in Ghana

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Automobile dealers have hinted of establishing an automobile hub within the next five years in Ghana due to the reduction in taxes on imports.

According to them, the tax cuts will facilitate the importation of products at cheaper costs with no or minimal losses.

“For the moment, we are looking for a reliable partner here and we found universal motors here to develop our business. Because we think that Ghana has great possibilities in the automobile market. Most especially now that taxes on imports have been slashed,” Senior Marketing Specialist, Africa Region of UAZ Motors, Natalia Buryak said.

Government early this year scrapped the 1% import levy.

The tax cuts that numbered about eight plus other four reviewed taxes, are expected to reduce the cost of doing business in Ghana and make local businesses more competitive.

Natalia Buryak also gave assurances that her outfit is considering keenly to establish an automobile hub in Ghana within the next five to six years.

“So in future, we will build an assembling plant here, probably in the next five or six years.”

She explained however that the company will in the mean time import the spare parts to satisfy the clientele base in Ghana.

“For now we would like to establish a dealers’ center of vehicles to make a center of after sales service to make a stock of spare parts and other things.”

In an interview with Citi Business News, Madam Natalia Buryak said the move will also solve the unemployment issues facing the country.

“When the hub is established, we will employ numerous Ghanaians and this will also solve to an extent the unemployment issues some Ghanaians face,” she stated.

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