Government proactive to improve Trade- EDIF official

Mr Frank Obeng, Upper East Regional Director of the Export Development and Investment Fund (EDIF) has reiterated Government’s commitment to ensure growth and development of the economy through trade.

He said trade was an important spring of national growth, the reason for which government had put in place export incentives to keep domestic and export products competitive in the global market.

Mr Obeng made this known at a sensitisation and information sharing workshop organised by the Ministry of Trade and Industry (MOTI) for stakeholders in trade.

He said the provision of kickbacks to exporters in the form of tax exemption on profits from exports, Value Added Tax exemption, the EDIF scheme, Duty draw back and corporate tax rebate were incentives meant to promote trade.

Mr Obeng said EDIF was established by the Parliamentary Act (582) to make financial resources available for the development and promotion of Ghana’s export trade.

He said Custom Duty Draw Back, allowed exporters to draw back up to 100 per cent of duties paid on materials imported to produce goods for export whilst Corporate Tax Rebate permitted manufacturers engaged in agricultural production to export part or all their produce to claim tax rebate between 40 per cent and 75 per cent of their tax liability.

Madam Betty Ayagibah, Director, Widows and Orphans Movement, a non-governmental organisation expressed gratitude to MOTI for the immense support provided for the promotion of trade in the country.

She said her organisation had benefited from a 130- hectare mango plantation from EDIF, situated in the Talensi Nabdam District.

Source: GNA