Ghana's government is introducing a new requirement for vehicle manufacturers seeking VAT exemptions under the country's automotive policy. The measure, announced by President Nana Akufo-Addo during the commissioning of Phase Three of the Zonda Tech Ghana Limited vehicle assembly plant, mandates a minimum local assembly threshold. This policy aims to encourage local production and reduce reliance on imported vehicles.
The requirement will apply to all vehicle manufacturers applying for VAT exemptions. President Akufo-Addo emphasized that the policy is part of broader efforts to boost the automotive industry and create jobs. The new rule is expected to increase the proportion of locally assembled vehicles eligible for tax benefits.
In addition to the VAT policy, President Akufo-Addo also proposed a salary-based vehicle financing plan to help workers afford locally assembled cars. This initiative is part of Zonda Tech Ghana's expansion strategy, which includes increasing local production capacity. The combined measures aim to strengthen the domestic automotive sector and support economic growth.
