Home Business GRA Refutes Claims of Dollarizing Vehicle Import Duties

GRA Refutes Claims of Dollarizing Vehicle Import Duties

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

The Ghana Revenue Authority (GRA) has denied recent claims that it charges import duties on vehicles in foreign currencies.

In a statement, the GRA clarified that duties are calculated according to the Customs Act 2015 (Act 891), and the notion that these duties are computed in foreign currency is misleading and should be disregarded.

“Duties and taxes are determined based on the value of vehicles from their country of origin. This includes the cost of the vehicle, insurance, and freight charges, which collectively form the basis for duty and tax calculations,” the statement read.

The GRA explained that while the cost, insurance, and freight (CIF) values are quoted in international convertible currencies such as dollars, euros, and pounds sterling, these values are converted into Ghana cedis using the prevailing Bank of Ghana exchange rate.

The authority stressed that the final duty and tax rates are calculated in Ghana cedis, not in foreign currencies as speculated.

The GRA urged the public to disregard the false claims and encouraged importers with concerns about the calculation of customs duties and taxes to contact the GRA for clarification.

Find the full statement below:

Gra Full Statement
Gra Full Statement
Gra Full Statement
Gra Full Statement

 

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