Home News Assin Fosu road Project tax waiver has been approved by the government

Assin Fosu road Project tax waiver has been approved by the government

by The Ghana HIT

An amount of US$10.24 on waiver taxes and duties has been approved by the government for the Assin Fosu road Project. The amount covers the procuring process of materials, equipment, and services for the rehabilitation of the National Trunk Road N8(phase2).

The total amount of taxes and duties involve the import duty, NHIL/GETfund levy, Import VAT, EXIM Levy, Special Import Levy, ECOWAS Levy, AU Levy, Withholding Tax, and the Inspection fee and the Domestic VAT. The Ghanaian Government is presently implementing the National Trunk Road N8 Phase 2. It covers the reconstruction of the Assin Praso- Assin Fosu section of the Yamoransa Junction-Asante Bekwai Road Project.

Messrs Shimizu-Dai Nippon Joint Ventures of Japan will handle the entire project. The waiver’s rationale is to release the burden of paying taxes, duties, and levies and fix it with the project related items on the government.

The National Trunk Road N8 offers the transportation of goods for domestic use and foreign consumption too. The road has been damaged as a result of the big volumes of vehicular traffic using it.

The government with the help of the Japanese Grant facility is constructing the road again to facilitate smooth and safe vehicular traffic movement. They have succeeded in constructing 60Km from Assin Praso to Asante Bekwai.

Phase 2 is presently being implemented by the government.
Once the project is completed, the traffic movement will be better along the National Trunk Road N8 In the Central Region. The economic activities around this area will also get better and as well as Trading with the neighbouring countries.

The living standards of the people living in the rural will also improve as a result of good transport. Exporting important commodities such as gold, cocoa, manganese, bauxite, and timber will be among the advantages that will be acquired from this project.

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