The Ghana Revenue Authority (GRA) has refuted claims suggesting that import duties are calculated in dollars.
This follows allegations by the president of the Automobile Dealers Union, Eric Boateng that impact of duties, imposed in dollars, on the businesses of second-hand car importers in Ghana are affecting their businesses negatively.
Ghana Revenue Authority, in a statement released on May 17, described the allegations as “misleading” and called the general public to the ignore claim.
“The claims that GRA calculates duties in foreign currency are misleading and should be disregarded. The basis of calculation of duties is provided for in the Customs Act 2015, (Act 891).
“The CIF value is then converted into Ghana cedis at the prevailing Bank of Ghana exchange rate. Rates of duty and other taxes are then calculated on the item in Ghana cedis. The duty and taxes are NOT quoted in foreign currency, but in CEDIS,” GRA explained.
GRA further stated that the Cost, Insurance, and Freight (CIF) values are quoted in internationally convertible currencies such as dollars, euros, pounds sterling, and others.
