Ghana's Trading Hub News

From the monthly archives: July 2017

We are pleased to present below all posts archived in 'July 2017'. If you still can't find what you are looking for, try using the search box.

Removal of Customs barriers start today - Commissioner

The Customs Division of the Ghana Revenue Authority (GRA) today, July 31, 2017 started removing customs barriers on highways across the country.The move is in response to a directive by the Vice President Dr. Mahmoud Bawumia, and is part of efforts to facilitate trade and boost economic activities in the West African sub-region.The Commissioner of the Customs Division of the GRA , Mr Isaac Crentsil is in the Northern Region to kick start the removal

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80 companies to receive stimulus from government – MOTI

Eighty companies have so far qualified to receive support to boost their businesses under government’s $50 million National Industrialisation Revitalisation Programme.
They have been selected from more than 350 viable business facing distress who submitted applications for the programme to the Ministry of Trade and Industry (MOTI).Mr Robert Ahomka-Lindsay, Deputy Minister for Trade and Industry (MOTI), said government believed that the best way to create jobs for citizens of the country was to embark on an extensive industrial transformation drive.

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Trade partners hopeful of achieving reforms at ports

Stakeholders in the country’s trade hub are optimistic of meeting the September 1, 2017 deadline for the removal of customs barriers and other reforms at the ports.The three-pronged port reforms include the removal of customs barriers along the country’s transit corridors, paperless transactions at the country’s ports and trade chain and a mandatory joint inspection of imports at the country’s ports.This is to eliminate bottlenecks in the country’s trade chain and ensure efficiency at the ports.

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Customs Officers trained on modern principles of classifying goods

Over fifty officers at the Customs Technical Services Bureau, which is the beginning of documentation for customs clearance, have been trained on the modern principles of classifying goods that are entering into the country, for purposes of establishing values and collecting taxes.

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Ghana makes positive strides towards the implementation of Trade Facilitation Agreement

Implementation of trade facilitation reforms, including in areas like the single window is key for strengthening regional integration in Africa and is in itself an inescapable must-have for the continent's efforts to boost intra-African trade, increase productive capacities and structural transformation for sustainable development."I commend Ghana for its progress on trade facilitation", said UNCTAD's Secretary General Mukhisa Kituyi during the Ghana National Conference on the Single Window and the WTO Trade Facilitation Agreement, adding that "An efficient and effective customs administration is at the heart of any trade facilitation reform."

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Making EPA meaningful to Ghana: Exporters push for support

Ghanaian exporters have intensified appeals for the government to improve their lot and make them competitive ahead of the eventual implementation of the Economic Partnership Agreement (EPA).According to them, they should be able to stand the competition from their foreign counterparts should they operate within favourable business environments.

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GUTA declares total support for 3% VAT flat rate

The Ghana United Traders Association (GUTA) has petitioned the Finance Committee of Parliament, to maintain the 3% Value Added Tax (VAT) flat rate scheme, which came into effect on July 1.The Ghana Revenue Authority (GRA) introduced the policy to replace the old VAT law which mandated manufacturers and service providers to charge 17.5% VAT on behalf of the state.The Association of Ghana Industries (AGI) which says the new VAT flat rate has

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GPHA trains journalists on port operations

As part of efforts to enhance the knowledge of journalists and other port users on the functions of the various stakeholders in the port sector, the Ghana Ports and Harbours Authority has organized a one-day training workshop for over 70 journalists from Accra and Tema.It is not uncommon to find media reportage attributing the actions and inactions of some state agencies in the clearance chain to the port authority, hence, failing to recognise that those agencies must be held responsible for their own actions.Therefore, the training was aimed to help improve upon the reportage on the Authority as well as enlighten journalists on the functions of the port authority.

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Anas Aremeyaw Anas grabs Shipper's Award for anti-corruption crusade

Ace investigative journalist, Anas Aremeyaw Anas was awarded at the just ended maiden Ghana Shippers Awards for his outstanding work in crusading against corruption.This was in recognition of his investigative work at the Tema Port in 2011 which brought major changes in port operations and brought to the fore the loopholes through which the nation was losing millions of cedis.He was excited that his hard work has been recognised and called on government not to relent in its effort to sanitise port operations and make it more transparent to help attract investors into the country.

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More cuts to import duties coming

Government has indicated that there will be more cuts to import duties and levies in order to reduce the cost of imported raw materials to boost local production.
Anthony Dzadzra, Director of Revenue Policy Division at the Ministry of Finance (MoF), said: "We need to reduce the cost of importation. Already we are looking at reducing the import taxes on raw materials for production," he said."We have so many raw materials and we are working on this with the Association of Ghana Industries (AGI) to reduce the import duties on selected

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