News Ghana· 15h ago· 1 min read
NewsGhana, Latest Updates and Breaking News of Ghana, Roger A. Agana, https://www.newsghana.com.gh/new-bills-target-ghanas-customs-and-excise-loopholes/ Government has placed a Customs Bill and an Excise Duty Bill before Parliament to close loopholes it says let large volumes of imported and excisable goods escape duty, Finance Minister Dr. Cassiel Ato Forson said in the mid-year fiscal review presented Thursday.
The review states that 37 percent of goods passing through customs suspense regimes, arrangements meant for transit or temporary storage, end up entering home consumption without the duty being paid. On excise-liable products such as wine, government says close to four in five cedis of the potential tax base escapes collection through the same kind of customs procedures, including warehousing, transit and free zone arrangements.
The Customs Bill introduces electronic…
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