New import duty regime will soon be operational – Akufo-Addo

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During a recent visit to Worchester, Mbadachusetts, President Akufo-Addo told a crowd at a public meeting that he was considering reforming Ghana's import duty regime to reduce taxes. raised in Ghana's ports.

He badured Ghanaians that the government was already working on the agreement and indicated that he was aware of petitions received by the state in order to revise the current import tariff regime. .

"The studies we conducted showed us that our ports were not competitive and that our country's import regime was way too high," he said. "We are dealing with it and, very soon, the measures that the government will put in place will be known to all of you. I do not speak next year or in 6 months, I speak very, very soon. "

According to Finance Minister Ken Ofori-Atta, the introduction of the new paperless system has reduced costs. He added that "the results (of the paperless port system) showed that the cost components of business in the country's ports had been reduced from seven to three. This subsequently reduced the total costs from GH 1,280 to GH ₵ 320 ".

"This means that the paperless system has reduced the cost of transactions in ports by 960 GHG, which represents a savings of 75%. As a result, importers are now saving 75% through the implementation of the paperless system. "

Read more: No need to change the revenue collection system for ports – GCNet denounces the existing framework

Shortly after implementation, stakeholders welcomed the Ghana Port Efficiency Improvement System.

Last year, Michael Achagwe Luguje, Director General of the Ghana Ports and Harbors Authority, predicted that the rollout of the paperless port system would be 100% complete by the end of the second quarter of 2019 and he asked stakeholders to continue to make suggestions for the system to be more effective.

Similarly, Beninita Bismarck, Executive Director of Ghana's Cargo Authority, said she would review the implementation of the program and make the necessary changes.

"Given the multiple stakeholders connected to it and the level of awareness of shippers at the national level required, the shippers' authority, in consultation with key industry players, preferred to conduct a comprehensive review. after the first year of implementation. Greater collaboration among industry players is needed to ensure that the system is fully implemented to meet the government's intended goals, "she said.