Ghana's Trading Hub News

Massive shakeup hits Tema Port

There has been a massive shakeup and reshuffle among officials of the Customs Division of the Ghana Revenue Authority (GRA) at the Tema Habour as part of internal measures to ensure the Authority performs at its maximum efficiency.The shakeup happened on Monday and had some ten top officials being asked to change positions as part of internal periodic transfers aimed to ensure that officials do not overstay at a particular duty post.

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Important Notice on Falsification of Customs Documents

It has come to the notice of the Customs Division of the Ghana Revenue Authority that some importers, traders, shipping agents and clearing agents are in the habit of falsifying, faking or altering documents covering their consignments of goods imported with the aim of evading the payment of the correct and appropriate duties and taxes.These documents include invoices, bills of lading, sales contracts, bank payment documents and even the Customs Classification and Valuation Reports.

 

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Govt assesses impact of tax cuts. Results to feature in 2017 budget — Larbi-Siaw

The Ministry of Finance is assessing the impact of the various tax reduction promises made by the ruling New Patriotic Party (NPP) in the run-up to the December 7 general election, a tax policy advisor at the ministry, Dr Edward Larbi-Siaw, has said.He explained that the ministry was currently undergoing an impact assessment exercise of the tax cuts promised by the new administration in order to ascertain the necessary adjustment to make in the 2017 budget statement.

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Ghana Reforms- World Bank Ease of Doing Business.

In the area of trading across borders, the reforms recorded by Doing Business in 2015/16 span a wide rangefrom building or improving hard or soft infrastructure for trade to joining customs unions, digitizing documentation and introducing risk-based inspection systems. These varied endeavors highlight the complexity of international trade Ghana is among the economies that heavily invested in electronic systems to facilitate trade. In September 2015

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Shippers, traders want hassle-free port operations

Several business groups in have expressed optimism that the year 2017 will be a better one than the year 2016.Speaking in separate interviews with the GPHA’s Eye on Port on their expectations for the 2017 business year, the Ghana Union of Traders Association (GUTA) the Ghana Institute of Freight Forwarders (GIFF) Importers and Exporters Association, Greater Accra Regional Shippers Council (GARSC) and the Customs Brokers Association of Ghana (CUBAG) were all unanimous in their expectations.

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Common External tariff key to reduction in smuggled Goods

The Director of Foreign Trade at the Ministry of Trade and Industry, Mr. Anthony Nyame Baafi has said the implementation of the Common External Tariff will significantly reduce smuggling of goods across national borders.He said one of the main instruments that the West African regional body ECOWAS can use to foster regional integration is the Common External Tariff (CET) which has been successfully passed in Ghana.Mr. Nyame Baafi said this at a workshop on “Exporting to the ECOWAS and EU Markets” funded by Trade Related Assistance and Quality Enabling Programme (TRAQUE) in Tamale.

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Trade facilitation: Ghana ratifies WTO agreement ahead of Nigeria

Ghana has again moved ahead of Nigeria to ratify its World Trade Organisation (WTO) Trade Facilitation Agreement becoming the 104th WTO member to do so.In August 2016, the Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah, disclosed that the Federal Executive Council (FEC), had approved Nigeria’s ratification of an agreement by the WTO, but the country is noticeably missing on the list of nations that have ratified the agreement.

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Ghana ratifies the Trade Facilitation Agreement

Ghana has ratified the Trade Facilitation Agreement (TFA), making it the 104th WTO member to do so. Only six more ratifications from members are needed to bring the TFA into force.

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CEO of Conship lauds Ghana National Single Window Project

The Chief Executive Officer of Consolidated Shipping also known Conship, Dr. Macdonald Chimandas Vasnani has lauded the customs division of the Ghana Revenue Authority and their technical partners, West blue consulting for successfully implementing the Ghana National Single Window project.According to him, the single window project has significantly reduced the cost and time of doing business in the country.

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Introduce more private sector reforms - Expert

A private sector development specialist at the World Bank, Mr Frederic Meunier, has urged the government to introduce more reforms in the private sector to improve the ease of doing business in the country.“Although Ghana has moved an impressive 13 places up on the Trading Across Borders in the latest World Bank Ease of Doing Business Report, an indication that the Ghana National Single Window

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