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The Ghana Revenue Authority has pegged the dollar at GH¢5.08 at the country’s ports

The Ghana Revenue Authority (GRA) has disclosed that it has started the implementation of a fixed exchange rate regime at the country’s ports.The Commissioner General of GRA, Emmanuel Kofi Nti said the dollar has been pegged at GH¢5.08 at the port for trading purposes for the next three months. He made this known when he toured Abossey Okai in Accra. Abossey Okai is one of the spare ..read more

Import duties slashed by 50%, cars 30% effective April 4

Government says effective Thursday, April 4, there will be a reduction in import duties at all of the country’s ports. Vice President Dr. Mahamudu Bawumia, who disclosed this at the Economic Management Team (EMT) town hall meeting Wednesday, said, import duties will be reduced by 50 per cent while importers of vehicles will enjoy a 30 per cent reduction. During a recent visit to Worcheste..read more

New, lower import duties soon - Akufo-Addo

The President of the Republic, Nana Addo Dankwa Akufo-Addo, has indicated that reforms to Ghana’s import duty regime, which will bring down the high duties prevailing in Ghana’s ports, are in the offing, and will be rolled out soon.

With many having petitioned the State to intervene and review the high taxes and duties on imported items, President Akufo-Addo assured that..read more

Tamale, Ashanti Sectors exceed revenue targets, for GRA Customs Division

The Tamale Sector Command of the Customs Division of the Ghana Revenue Authority (GRA) exceeded its revenue target for last year by GH¢98.6 million, with the Ashanti Sector Command exceeding its target by GH¢73.98 million additional collection. The Tamale Sector thus exceeded its 2018 revenue by 144.20 per cent as it collected GH¢167 million against t..read more

‘Paperless System Reduces Business Cost From GH1280 To GH320’

The total cost of doing business at the ports has reduced from GH1,280 to GH320 after the implementation of the Paperless Clearing System. This, according to Finance Minister Ken Ofori-Atta, represents about 75 percent. Answering a question as to whether the introduction of the paperless port has increased the cost of doing business at the ports in parliament yesterday, the Minister of Finance ..read more

Help improve ease of doing business- Bawumia charges state agencies

The Vice-President, Dr Mahamudu Bawumia, has charged state agencies whose mandate have a direct impact on businesses and investments to implement reforms that will help improve the country's ease of doing business. The World Bank ranked Ghana 114th out of 190 countries in the world and 14th in sub-Saharan Africa in its latest ease of doing business ratings. The latest ranking means that Ghana h..read more

Customs urged to reduce examination of containers to 10 per cent

Vice President Dr Mahamudu Bawumia has tasked the Customs Division of the Ghana Revenue Authority to reduce physical examination of containers at the ports from the current 90 per cent to 10 per cent to make the country’s business environment competitive. He said this could be achieved through the use scanners and risk engines to reduce the cost of doing business. This, he said, would aid..read more

Ghana exported US$52m goods to Iran last year - Iranian Ambassador announces

The Ambassador of the Republic of Iran to Ghana, Dr Nosratollah Maleki, has announced that in 2018 Ghana exported about US$52 million worth of goods to Iran while it received goods valued at about US$7 million from Iran. He stressed the need to increase trade between Iran and Ghana this year and beyond. So far, he said, the economic relations between the two countries increased by 127 per cent ..read more

Ghana Shippers Authority lauds port paperless system

Mr Joseph Amoah, the Ghana Shippers’ Authority Committee Chairman of the Ashanti Region, has applauded government for introducing the paperless system at the country’s port. He said it has been an enormous help to relieve shippers of import duty hassles.Mr  Amoah said the current system which facilitated electronic payments, has minimized the drudgery of cumbersome bureaucracy ..read more

Intra-African Trade Expected to Rise by 15% Through Free Trade Execution

The implementation of AfCFTA would result in a net gain of 2.8 billion U.S. dollars in real income for Africans, Hanan Morsy, director of the AfDB’s macroeconomic policy department, told Xinhua in the Ethiopian capital, Addis Ababa. African countries can help in the implementation of AfCFTA through domestic legislations that eliminate bilateral trade tariffs, by removing non-trade barrier..read more

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