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'Scrap 1% CIF Levy Imports'

By Daily Guide
Business & Finance 'Scrap 1 CIF Levy Imports'
SEP 1, 2015 LISTEN

Players in Ghana's private sector have called for the abolition of the 1 percent levy on the CIF value on imports in the Destination Inspection Scheme.

The stakeholders, including the Ghana Chamber of Commerce and Industry (GCCI), Ghana Union of Traders' Association (GUTA), among others, in a resolution passed after a joint private sector business consultative forum on the introduction of the Single Window System held recently in Accra, argued that the imposition of the said levy had unnecessarily increased the cost of doing business in Ghana and negatively affected the working capital of the business community.

According to them, the business community was already saddled with numerous taxes, levies and other charges, high interest rate, inflation, high exchange rate, high cost of fuel, among others, that have collapsed several businesses.

On the introduction of the Single Window System, they stated that the September 1, 2015 deadline was too short for the transition and that it was very likely to create problems in the implementation.

They therefore called on government to indemnify the business community against loss, demurrage, rent and any other cost that may result from system's failure in the course of implementation of the single window policy.

A statement released by GUTA General Secretary, Alpha A. Shaban, on behalf of the forum said, 'In view of all the above enumerated facts and practical realities on the ground, we would, with due respect, appeal to the government, through your good offices to stop any attempt at imposing any additional tax, levy or charge in the name of revenue mobilization for national development.'

'We also appeal to government to ensure that all the agencies in the value chain respect all pending and outstanding transactions during the transitional resumption period of customs.'

BY Melvin Tarlue

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