Customs implements directive on import duty reduction

The Customs Division of the Ghana Revenue Authority, on Thursday began implementing government’s directive to reduce import duties at Ghana’s designated ports.

Vice President Mohamudi Bawumia announced the government’s directive at a town hall meeting organized by the Economic management team.

The benchmark values of all imports attracted a 50 per cent reduction but thirty per cent cut for cars.

Speaking to the Ghana News Agency in the Tema harbour enclave, Mr Abraham Frimpong, Director, Global Stewards Company Limited, said all entries done on Thursday at the respective designated areas including the Long Room adhered to the new directive.

According to him, Customs explained that old entries would not attract reduction even if the corresponding goods have not been cleared.

The freight forwarder said the bold stand of government will make Ghana seaports competitive and subsequently attract more vessels and imports which will spur the manufacturing sector because most of the base materials are imported.

He appealed to government to intensify education on the new import duties regime in order not to create confusion among ordinary Ghanaians.

He said, the real effects on prices of imported goods would not be immediate but directive would go a long way to the reduce the stress on Ghanaians.

Mr Frimpong agreed with government’s assertion that high duties are counterproductive because  neighbouring ports especially, the Lome Port in Togo is becoming a preferred port, even for some Ghanaians and the land-locked countries.

Customs Classification and Valuation Reports sighted by Ghana News Agency confirmed the implementation of the new duty regime.

The Home Delivery Values(HDV) of cars to be cleared were slashed by thirty per cent before it was used as the base amount for calculating other variables.

The Customs Division of GRA did not comment on the new duty regime.

Source: GNA