Following government’s removal of taxes on paper imported into the country for the production of textbooks and exercise books, the Ghana Printers and Papers Converters Association (GPPCA) has reduced the cost of exercise and note books by 12 per cent.
In this connection, parents buying such books for their wards at the beginning of this academic year, would see price reduction.
The president of GPPCA, James A. Berko, announced this yesterday at a press conference in Accra.
He said the decision of GPPCA was informed by the VAT Amendment Law Act 890 passed by Parliament, which removed the 17 1/2 of VAT on paper and raw materials imported by local manufacturers for the printing of textbooks and exercise books.
Mr. Berko said, however, that because some members of GPPCA were yet to produce all necessary requirements to the Ministry of Finance for the grant of tax waiver, prices of books might vary on the market.
“We are hoping that after members had satisfied the entire requirement by the Ministry of Finance, the association would come out with specific costs for text and exercise books.
“For now, since not all members were beneficiaries of the tax waiver, it would be difficult to announce at what price members should sell their products,” he said.
Mr. Berko, however, said all members benefiting from the tax waiver would have their prices reduced by 12 per cent.
The association, appreciates the efforts of Parliament and the commitment of the government to carry out the amendment to stimulate growth in the printing sector,” he said, and urged the government to see to it that all raw materials imported to produce books also enjoyed tax waiver.
“GPPCA would not hesitate to initiate further cuts when the five per cent we pay in custom duty as a result of some lapse, was fully removed due to the fact that the President approved 100 per cent custom duty waiver,” he said.
The Executive Secretary of the association William Turkson, advocated that tax on other raw materials such as ink and plate should also be exempted from tax and duties.
He explained that the convention which allowed importation of text and exercise books into the country, stated that all raw materials meant for the production of books should be free from tax
By Bernard Benghan