Ghana's Trading Hub News

Single Window boosts revenue collection 14.8% in one year

President John Mahama has been touting the benefits of the Ghana National Single Window (GNSW) initiative, announcing that its introduction has seen a 14.8percent rise in revenue collection by the Ghana Revenue Authority since September 2015 when it was introduced.

According to him, the GNSW is a positive development for international trade operations and that it will position the country achieve its vision of a diversified economy, effective revenue collection and deploying a transparent process to support the country’s approach to good governance policies.

Launching the Ghana Import Export and Transit Process Manual, a document to guide the shipping community about the various trade processes, in Accra, the president urged stakeholders to ensure that the Single Window initiative delivers to ‘global standards’.

“Today here in Ghana, trade facilitation has been enhanced with a 57percent increase in volume of goods processed at the Customs Services Bureau and revenue collection has improved and become more efficient with a 14.8percent increase in collections over the period. These are successes we must encourage and replicate in other sectors of the economy,” he said.

President Mahama indicated that one year on, the project “was not just a bold decision but has proven to be successful as well, with waiting time and approval for classification reduced to two days from two weeks.”

He explained that the launch of the manual would help the country to, over the next five years, achieve reduction in overall administrative time by 50percent and the cost of trading internationally by 25percent.

“This will have a very dramatic impact on our international investment competitiveness, with direct impact on our domestic economic situation, offering up much more job opportunities and improved living standards for our people”.

Commissioner General of the Ghana Revenue Authority, George Blankson, welcomed the Customs Division takeover from the Destination Inspection Companies (DIC).

Mr Blankson stated that the transfer has provided for the adoption of a superior technology and approach to performance of their functions.

The Commissioner General also stated that the Pre Arrival Assessment Reporting System (PAARS), introduced as a new tool for classification, evaluation and risk management, provides for processing, declaration even before the arrival of goods, saving time and resources for the importer.

The Single Window is expected to, in the long term, have a huge impact on the international competitiveness of local businesses by reducing the time spent by importers and exporters in securing documentation. It would also increase the country’s global ranking in the “Trading across Borders Report” from the current position of 171 in 2016 to 121 by 2021.

The GNSW project was initiated on 1st September 2015 by government to enhance the country’s trade and economic development and secure and increase government revenue.

It is estimated that the implementation of the proposals in the strategic plan would save the economy over US$ 120 million annually, aside reducing the time and complexity for doing international trade.

The GNSW services are delivered through the Ghana Trading Hub 7 and complemented by other service-delivery programmes, such as by the Customs Technical Services Bureau (CTSB), as well as by an import, export and transit process manual.

Source:http://www.ghanaweb.com/GhanaHomePage/business/Single-Window-boosts-revenue-collection-14-8-in-one-year-474582

Comments

Got something to say? Join the discussion »
  1. Double Chin's avatar Double Chin said on 4/9/2018 6:41 AM: Reply  
    Thanks for your post. I’ve been thinking about writing a very comparable post over the last couple of weeks, I’ll probably keep it short and sweet and link to this instead if thats cool. Thanks. Double Chin
  2. Boost Testosterone Level's avatar Boost Testosterone Level said on 4/10/2018 10:16 AM: Reply  
    I would like to thank you for the efforts you have made in writing this article. I am hoping the same best work from you in the future as well. Thanks... Boost Testosterone Level
  3. addas's avatar addas said on 4/14/2018 8:48 AM: Reply  
    You make so many great points here that I read your article a couple of times. Your views are in accordance with my own for the most part. This is great content for your readers. male enhancement pills at walmart
  4. Robert King's avatar Robert King said on 4/17/2018 7:39 AM: Reply  
    I enjoy every one of the posts, I must say i adored, I want more details with this, mainly because it is rather excellent., Thanks pertaining to speaking about. Legal Steroids for Sale in Australia
  5. Best Penis Enlargement Device's avatar Best Penis Enlargement Device said on 4/18/2018 8:08 AM: Reply  
    Pretty good post. I just stumbled upon your blog and wanted to say that I have really enjoyed reading your blog posts. Any way I'll be subscribing to your feed and I hope you post again soon. Big thanks for the useful info. Best Penis Enlargement Device
  6. Robert King's avatar Robert King said on 4/19/2018 10:42 AM: Reply  
    Crucial online marketing you just it applies seek before submission. It will probably be simple and easy to jot down advanced write-up which. Keto Diet
  7. Elizabeth Owens's avatar Elizabeth Owens said on 4/20/2018 7:31 AM: Reply  
    Excellent post. I was always checking this blog, and I’m impressed! Extremely useful info specially the last part, I care for such information a lot. I was exploring this particular info for a long time. Thanks to this blog my exploration has ended. Crave Klothing Brand Launch
  8. Edward Scott's avatar Edward Scott said on 4/20/2018 9:53 AM: Reply  
    What is an outstanding post! “I’ll be back” (to read more of your content). Thanks for the nudge! eyelash extensions grand rapids
  9. Marie Brown's avatar Marie Brown said on 4/20/2018 11:53 AM: Reply  
    This is such a great resource that you are providing and you give it away for free. I love seeing blog that understand the value. Im glad to have found this post as its such an interesting one! I am always on the lookout for quality posts and articles so i suppose im lucky to have found this! I hope you will be adding more in the future... climatisation mobile
  10. clenbuterol effet's avatar clenbuterol effet said on 4/21/2018 8:49 AM: Reply  
    I think this is an informative post and it is very useful and knowledgeable. therefore, I would like to thank you for the efforts you have made in writing this article. clenbuterol effet
  11. Did Chris Hemsworth Take Stetroids For Thor?'s avatar Did Chris Hemsworth Take Stetroids For Thor? said on 4/21/2018 12:07 PM: Reply  
    Positive site, where did u come up with the information on this posting?I have read a few of the articles on your website now, and I really like your style. Thanks a million and please keep up the effective work. Did Chris Hemsworth Take Stetroids For Thor?
  12. Best Breast Enlargement creams's avatar Best Breast Enlargement creams said on 4/23/2018 6:07 AM: Reply  
    Thank you because you have been willing to share information with us. we will always appreciate all you have done here because I know you are very concerned with our. Best Breast Enlargement creams

leave a reply

 [Quick Submit with Ctrl+Enter]

Remember my details
Notify me of followup comments via e-mail

News Subscription

Get the latest updates in your email box automatically.

Search

Archive

Meta

s