Tag: importers
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GRA worried over use of false documents in evading customs duties
The Ghana Revenue Authority (GRA) has deplored the increasing use of fake trade documents by some importers for declaring goods at the ports. The Authority explains that trend by these importers is part of efforts to evade customs duties and taxes. This follows an intelligence in February 2023 on some two companies and importers that…
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Register for VAT or face additional 12.5% charges – GRA to importers
The Ghana Revenue Authority (GRA) has issued a stern warning to importers who are eligible to register for Value Added Tax (VAT) but have failed to do so. Effective June 6, 2023, these importers will face an additional charge of 12.5% on the customs value of taxable goods they import. This development comes in light…
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COVID -19 levy must be abolished – Importers & Exporters insist
Despite the government’s insistence of maintaining the COVID-19 Health Recovery Levy, the Importers and Exporters Association of Ghana, is calling for the immediate abolishment of the levy. The importers and exporters argue that government must completely do away with the Covid -19 levy as well as the Special import levy and the financial recovery levy…
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SONA full of hopelessness- importers and exporters association
The Importers and Exporters Association of Ghana has described the State of the Nation Address presented by President Nana Addo Dankwah Akufo-Addo on Wednesday, 8th March, 2023 as full of hopelessness for businesses. In a statement, the Association explains that attempts by the Nana Addo-led government to get Parliament to, as a matter of urgency,…
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Benchmark policy reversal implementation issues to cause rift between agents and importers – IEAG
The Importers and Exporters Association of Ghana is warning of a rift between freight forwarders and their clients if the challenges with the implementation of the reversal of the reduction in benchmark values policy as witnessed yesterday continue. The government’s reversal of the 50% discount in the benchmark values of some imported goods and 30%…
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Minister orders GPHA to reduce cargo handling charges at Tema Port after agitations
The new 10.9 percent increase in cargo handling tariffs at the Tema Port which turned out to be more than 100% according to Freight forwarders, is to be slashed by some 40% following a meeting between the Transport Minister and all relevant stakeholders. According to importers and exporters, the increase was far above the percentage…
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‘Walk the talk’ – Importers on revised FX calculation at ports
Importers are indifferent about the Vice President, Dr. Mahamudu Bawumia’s revelation of reviewing the date used in calculating the exchange rate for them at the ports. The Vice President stated earlier that government is in the process of reviewing the date after several complaints from importers and other business associations. The businesses have complained about…
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Importers reject tax evasion claims by AGI
Importers and freight forwarders have dismissed claims of engaging in malpractices at the ports leading to the gradual collapse of local manufacturing industries. They maintain that such allegations could not be possible as they go through strict scrutiny in the clearing process. The comments come on the back of concerns raised by the Association of…
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Cedi depreciates by 5% in 2017
Some currency analysts have predicted that the cedi’s depreciation is expected to continue, at least to the end of 2017. Citi Business News’ analysis shows a continuous streak of the local currency for a greater part of this year. For this year alone, the cedi has depreciated by about 5 percent on the interbank foreign…
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Gov’t starts tax stamp policy amidst boycott
Government has stressed that the excise tax stamp policy will not add unto the tax burden of manufacturers and retailers even as it begins to roll out the policy. According to the Ministry of Finance, the policy will encourage tax compliance while protecting the consuming public against harmful and unwholesome products. The excise tax stamp…