Government’s effort to help local manufacturing company Kantanka Automobile Company has resulted in the Akuffo-Addo led government handing Kantanka Automobile a 10-year tax holiday and also a duty free deal when they import the materials for assembling and manufacturing purposes.
The good news was announced by the CEO of Kantanka Group of Companies Nana Kwadjo Safo Ankofena Jnr at their end of year party and awards ceremony held on 6th January 2019.
By this tax waiver, Kantanka Automobile will not pay any tax on any of their products for the next 10 years and they will neither pay import duties on any assembling material imported into the country. This is an initiative taken by the government to ensure that the Kantanka brand flourishes to compete with other automobiles across the globe
It could be recalled that Chief Executive officer of Kantanka Automobiles, Mr Kwadwo Sarfo Jr last year August revealed during an interview on Rainbow Radio 87.5Fm that, government takes import duties on Kantanka cars produced in the country and in addition, they also pay for import duties, a situation he lamented is having a negative on their activities.
With this new initiative from government, prices of Kantanka cars are expected to be reduced on the market.