Government has absitively to abandon the claim for absolution holders to provisionally pay the acceptation assignment and taxes upfront and administer for a acquittance later.
In March this year during the presentation of the civic budget, government appear the aishment of acceptation assignment and some taxes at the ports accounted nuisance.
Importers were directed to pay upfront but fabricated to appear for acquittance later.
Speaking to journalists in Accra, a Deputy Finance Minister Kwaku Kwarteng declared that importers will now account from exemptions from October 1, 2017 already they accommodated all the requirements.
He maintained that the old arrangement that appropriate importers to pay upfront and after appear for acquittance created some banking challenges for the business owners.
“In our contempo consultations with stakeholders, we accept bigger accepted the weaknesses in our exemptions regime. We are in a bigger position to accord with the shortcomings in means that affectation beneath amount to 18-carat businesses and absolution holders,” he said.
Mr. Kwarteng declared that government has been able to indentify abuses in the absolution administration back April, 2017 back the action was instituted.
“For instance in the aboriginal eight months of 2016, absolute acceptation duty was GHS5.9 billion and absolute exemptions accepted was GHS1.7 billion. As such tax exemptions represented 30 percent of absolute acceptation assignment and taxes”
However, Mr. Kwarteng declared that in the aboriginal eight months of 2017, absolute acceptation assignment calm added to GHS7.2 billion, while absolution absolute exemptions accepted decreased to GHS1.2 billion which is 17 percent of absolute acceptation assignment and taxes for the aforementioned aeon beneath review.
He explained that as per the cachet quo, importers will be appropriate to accommodate affidavit that accommodate ,the base for the absolution , advocacy letter from accordant area admiral or agency, Community Classification and Valuation Report(CCVR) or community Acknowledgment form, and acceptation acknowledgment form.
The blow accommodate tax approval certificate, bill of burdened , bartering invoices, packing list, tax absolution appraisal address and added acknowledging documents.
By: Lawrence Segbefia/citibusinessnews.com/Ghana
How Us Custom Declaration Form 12 Can Increase Your Profit! | Us Custom Declaration Form 12 – us custom declaration form 2017
| Encouraged to help my own weblog, on this moment I am going to teach you regarding us custom declaration form 2017