Mobile Phones Importers Association, a membership of over 1000 dealers in the Ashanti Region have threatened to retaliate government?s newly imposed 20% import duty on all mobile phones and accessories by similarly inflating prices on all mobile phones and products? following what the N.D.C government claims as changes arising from the 2013 supplementary budget statement and economic policy .
This according to dealers will be their new business line of action should government fail to relax the imposed 20% import duty to the barest minimum level since they cannot stand in compliance to government?s in-actions to the collapse of the industry beyond repairs.
The 20% mark of Import Duty on telephone sets including telephones for cellular networks or for other wireless networks when added up with an imposed 12.5% Value Added Tax,10% Environmental Excise Tax Rate and 3% Import Levy imposed on machinery and equipment which came into effect on the 5th?of August,2013 shoots the percentage mark to a total of 45.5%.
This according to the Chairman for the Association Mr. Frimpong Michael in an interview with The Moment is making things tough for players of the industry. All capitals set aside for importations, wholesaling and retailing of the commodity in question he underscored to have gone up abnormally to their disadvantage, forcing dealers to struggle in an attempt to address the challenge.
Customers he lamented are likely to suffer the consequences as they will be confronted with similar imposed new prices on all mobile phones and products at various points of sale by way of retaliation.
The status-quo of the industry Mr. Frimpong stressed is now in a bizarre state as majority of dealers in the region who are not well to do financially are almost retracing their steps out of the business into other fields due to the deadly taxation blow thrown by government on their financial portfolios.
As at? last week’s Wednesday 7th?August 2013, several operators in the region have closed down their shops, waiting for executives of the association to come out clear on the new prices yet to be imposed on all phones and other related products.
This the chairman noted will help dealers who for business reasons accessed short term loans from Banking institutions and other source of credit to generate money and make payments to their creditors else they stand as defaulters.