Ghana's Trading Hub News

From the monthly archives: May 2018

We are pleased to present below all posts archived in 'May 2018'. If you still can't find what you are looking for, try using the search box.

Single window increases revenue by 24%

Implementation of the single window system has increased government’s revenue by 24 percent over the past two years, rising from GH₵744 billion in 2015 to GH₵975 billion in 2017, the Ghana Revenue Authority, Customs Division’s Monthly Import Revenue Performance data for the period has revealed.For the first four months of this year, the total amount of revenue realised from imports stands at GH₵3.59billion, a development that portends an increase in total revenue to be collected by Customs at end of the year.

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IMF lauds Ghana’s economic performance

The International Monetary Fund (IMF) has lauded the government for pursuing an economic trajectory that is yielding positive results to restore the economy on a sound footing but added that a lot more work needs to be done to achieve full fiscal consolidation.For the country to achieve its target of sound microeconomic stability, the fund urged the government to ensure a sound financial sector, prioritise investments and reduce the debt stock to sustainable levels to restore absolute confidence in the economy.

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Commissioner-General of GRA brief media on excise tax stamp

Mr Emmanuel Kofi Nti, the Commissioner-General of the Ghana Revenue Authority (GRA) has said the implementation of the excise tax stamp was not an introduction of a new tax.“Rather, the stamp is a new way of administering the already existing tax and helps the GRA to effectively monitor the payment of excise tax to ensure that the correct amount of tax is paid”.

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GRA Declares No TIN, No Documents, No Business

It is mandatory and required by the laws of Ghana for every adult Ghana living everywhere to register and have a Tax Identification Number (TIN).
Taxpayer Identification Number (TIN) is a unique number generated by the Ghana Revenue Authority (GRA) for persons including corporate entities upon application.The GRA as part of its operational standards pledged to generate the number within 48 hours upon application accompanied with a valid national identification number such as Driver's license, Passport, Voter's ID.

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Ghana Lauds Dubai's Single Window System

As part of efforts to transform Ghana’s port and make it number one in Africa, a high-level delegation from various stakeholders paid a working visit to Customs World Dubai, the company which recently took over West Blue Consulting to undertake Single Window project in Ghana.

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Ghana Revenue Authority embarks on vehicle inspection exercise

The Ghana Revenue Authority (GRA) has begun a special operation to impound uncustomed vehicles in the bid to ensure vehicle owners comply with the authority’s tax policy.The exercise which commenced on Monday, April 30 aims at seizing cars belonging to persons who have failed to pay the requisite import duties and taxes.Briefing the press prior to the exercise, Commissioner-General of the GRA, Emmanuel Kofi Nti indicated that the authority’s break in operation after it

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