Home Headlines GRA: Duties On Vehicles Not Charged In Foreign Currencies

GRA: Duties On Vehicles Not Charged In Foreign Currencies

Ghana Revenue Authority (GRA)
Ghana Revenue Authority (GRA)

Ghana Revenue Authority (GRA) has refuted claims that it charges duties on imported vehicles in foreign currencies.

In a statement, the GRA clarified that duties are calculated in accordance with the Customs Act 2015 (Act 891) and based on the value of vehicles from their country of origin.

GRA explained that duties and taxes are determined by adding the cost of the vehicle, insurance, and freight charges (CIF).

These CIF values are initially quoted in international convertible foreign currencies such as US dollars, euros, or pounds sterling.

However, these values in foreign currencies are converted into Ghana cedis using the prevailing Bank of Ghana (BoG) exchange rate before calculating the applicable duties and taxes.

The statement emphasized that the rates of duty and other taxes are ultimately calculated in Ghana cedis, not in foreign currencies, contrary to the misleading claims.

The GRA urged the public to disregard the misinformation and encouraged importers with concerns about duty calculations to contact the authority for clarification.

Additionally, the GRA reiterated its commitment to imposing duties and taxes strictly in accordance with the provisions of the Customs Act 2015 (Act 891).

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