Revenue Collection Increases By 14%

President Mahama launching the Ghana’s Import, Export and Transit process manual

President John Mahama says the Ghana National Single Window (GNSW) has increased revenue collection in the country by 14.8 percent since its inception a year ago.

According to him, GNSW is a positive development for the country’s international operations that would ensure diversified economy and effective revenue collection.

Speaking at the first anniversary of GNSW in Accra, he said, “Today, here in Ghana, trade facilitation has been enhanced with a 57 percent increase in volume of goods processed at the Customs Services Technical Bureau and revenue collection has improved and become more efficient with a 14.8 percent increase in collections over the period.”

The successes, he said, must be encouraged and replicated in other sectors of the economy, stating “the project was not just a bold decision but has proven to be successful as well, with waiting time and approval for classification reduced to two days from two weeks.

“Next year will be even better with many benefits to the business community and economy as we proceed with the new electronic payment platform for Import Declaration Form (IDF),” the president said.

 

Import and transit manual

 

President Mahama used the occasion to launch the Ghana Import Export and Transit Process Manual, which would guide the shipping community in the various trade processes.

The president urged stakeholders to ensure that the Single Window initiative delivers to meet global standards.

He explained that the launch of the manual would help the country to over the next five years achieve reduction in overall administrative time by 50 percent and the cost of trading internationally by 25 percent.

 

“This will have a very dramatic impact on our international investment competitiveness, with direct impact on our domestic economic situation, offering up much more job opportunities and improved living standards for our people,” the president said.

Commissioner General of the Ghana Revenue Authority, George Blankson, said the Customs Division’s takeover of the activities of the Destination Inspection Companies (DIC) has enhanced the adoption of superior technology.

The Commissioner General also stated that the Pre Arrival Assessment Reporting System (PAARS), introduced as a new tool for classification, evaluation and risk management, provides for processing and declaration even before the arrival of goods to save time and resources for the importers.

The GNSW project was initiated on 1st September 2015 by government to enhance the country’s trade and economic development and increase government revenue.

It’s estimated that the implementation of the proposals in the strategic plan would save the economy over $120 million annually.

By Cephas Larbi

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