Finance Minister Ken Ofori-Atta has announced to parliament in the new administration’s first budget that Government will scrap duties paid by spare part dealers.

Apart from the Spare parts duties toll, excise duty on petroleum products will also be scrapped.

The government also intends to scrap the Kayayei market toll.

Other taxes that will be completely abolished includes the 1% special import levy.The 17.5% VAT on financial services.

The 17.5% VAT on selected imported medicines not produced locally.

The 17.5% VAT on domestic airline tickets.

The 5% VAT on real estate sales.

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Abossey Okai is the hub for vehicle spare parts in the city of Accra and during the 2016 December elections, a group of traders from Abossey Okai donated 200,000 cedis to candidate Nana Akufo-Addo's campaign (who went on to win the elections after two unsuccessful bids).

Additionally, Mr Ofori-Atta said the Akuf-Addo government will initiate steps to remove import duties on raw materials and machinery for production.