Tag: Importers and Exporters Association of Ghana
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GRA can’t generate needed revenue from the new taxes – Awingobit
The Executive Secretary of the Importers and Exporters Association of Ghana, Sampson Asaki Awingobit has expressed doubt that the Ghana Revenue Authority (GRA) would be able to generate the anticipated revenue from the newly introduced taxes. The financial bills seek to raise about 4 billion Ghana Cedis annually as part of domestic revenue mobilisation. President…
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This is not the right time to introduce new taxes – Awingobit
The Exporters and Importers Association has voiced its disappointment with President Nana Akufo-Addo for approving the three new taxes passed by Parliament in March 2023. The union claims that the government did not address their concerns regarding the taxes when they submitted a petition to the presidency and parliament. On Monday, Information Minister Kojo Oppong…
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Import duties will continue to drive inflation if not checked – Importers and Exporters Association
The Importers and Exporters Association of Ghana says prices of goods will continue to increase uncontrollably should government fail to reduce import duties at the ports The association has revealed that there have been huge differences in import duties and taxes at the port in the past days due to some differences in the exchange…
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Importers, Exporters Association calls for sympathy for Labianca following corruption claims
The Importers and Exporters Association has jumped to the defence of Labianca Company Limited after it was implicated in corruption-related activities. In a statement, it called for the criticism of Labianca to be measured because of its contribution to the economy. “Even though we do not condone any act of unhealthy business transactions by any…
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Clearance inspection agencies barred from ports are back – Stakeholders bemoan
Clearance inspection agencies, which were barred from operating at the nation’s ports by government in 2018, have returned to the ports on the blindside of government. This came to light at a forum on Port Relations organised by the Importers and Exporters Association of Ghana. Government in June 2018 charged all inspection agencies except the…
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GRA to engage importers and exporters over amended VAT structure
The Ghana Revenue Authority (GRA) has responded to concerns raised by the Importers and Exporters Association of Ghana over a possible 12 percent increase in the prices of some commodities should it go ahead to implement the amended Value Added Tax (VAT) rate. According to the importers and exporters association, the amendment of the VAT …
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Prices of goods to go up by 12% over implementation of amended VAT
Consumers may have to pay an increase of about eight to twelve percent from February for some commodities should the Ghana Revenue Authority (GRA) implement the amended Value Added Tax (VAT) rate. This is according to the Importers and Exporters Association of Ghana (IEAG). The association says, the amendment, which was gazetted on December 31,…
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Benchmark value discounts: Importers & exporters unhappy with delayed consultations
The Importers and Exporters Association of Ghana has expressed its disappointment over what it described as government’s lack of engagement with stakeholders following the suspension of the 50% benchmark value reduction policy. The government on the 13th of January directed the Ghana Revenue Authority to suspend the implementation of the reversal of the benchmark value…
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Benchmark value discounts reversal: 10-day deferment period not enough – Importers & exporters
The Importers and Exporters Association of Ghana has rejected the 10-day period for the deferment of the implementation of the reversal of the benchmark value discounts. The association explains that the 10-day period is not enough for their members to clear their goods that arrived in the country’s port ahead of the initial implementation date…
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Importers unhappy with custodial sentencing clause in Insurance Act 2021
The Importers and Exporters Association of Ghana has raised concerns over a custodial sentencing clause in the Ghana Insurance Act 2021. The law prescribes a jail sentence for importers who do not comply with the mandatory Marine Insurance Policy. The association believes the law is not business-friendly and counterproductive hence must be removed from the…