The parliament of Ghana approved the Acts for the implementation of the 2020 Budget and published on 30 December 2019. The Act introduces tax holidays (exemptions) for the income of a manufacturer or assembler in respect of the manufacture or assembling of semi-knocked down vehicles, which is exempt from tax for a period of 3 years from the date of commencement of the manufacturing or assembling business; and fully-knocked down vehicles, which is exempt from tax for a period of 10 years from the date of commencement of the manufacturing or assembling business. The measures are generally effective from 1 January 2020.
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