GhanaReview International - The Leading Ghanaian News Agency
London New York Accra
GRi Latest News
Thursday 28 March 2024

2021-04-07

[N] As Majority Leader be circumspect with your utterances

2021-03-19

[I] Goldman Sachs staff revolt at ‘98-hour week’
[I] Over half of staff go back to workplace
[I] Health chiefs confirm Oxford-AstraZeneca Covid jab safe to use
[S] Kotoko Signs Second Brazalian Player
[N] It Is A Blatant Lie That I’ve Declared My Prez Ambition-Agric Minister
[S] Accra Mayor to change face of sports in Greater Accra
[S] Ambassador Lutterodt charges GOC prez to tackle Martha Bissah issue
[S] Ben Nunoo-Mensah hits ground running for GOC
[S] Black Stars to Engage Uzbekistan In International Friendly
[N] House of Chiefs calls for collaboration with MMDCEs for development
[N] Baby Harvesting: More suspects picked
[N] Police pledge commitment to bringing Sheikh Maikano’s murderers to book
[B] ARB Apex Bank admitted to Ghana-Sweden Chamber of Commerce
[N] Desist from starting race ahead of time - Obiri Boahen to NPP presidential
[N] Gov’t announces construction of five interchanges in Ashanti
[N] Controversial textbooks: NPP urges NaCCA to enforce rules without fear or favour
[N] Staff working on Tamale interchange call off strike
[N] Newly proposed taxes a huge hindrance to businesses’ recovery
[N] Government can’t take a unilateral decision on salaries for public workers
[N] Ghana records 2 new Covid-19 variants; experts call for immediate action

2021-03-17

[S] First GFA safety and security seminar takes place today
[B] NDPC holds consultation medium term framework for 2022-2025 in Oti
[B] More investments recorded in Western Region despite COVID-19
[N] Ghana records 698 COVID-19 deaths
[N] NDC’s Ofosu Ampofo behaves like a toddler – Allotey Jacobs
[S] Don’t tax sports betting, ban it – Ato Forson to government
[N] Ama Benyiwaa Doe slams Allotey Jacobs; says he has no influence
[N] Approving Akufo-Addo’s ministers ‘regrettable and unfortunate’ – NDC caucus
[S] Don't rush Satellites players, warns GFA coaching boss
[N] Eastern Regional Hospital detains 246 patients for non-settlement of bills
[N] COVID-19 vaccination in Ghana: 1,000 reports received on adverse effects
[N] Ignore reports of rift between local, foreign staff at AfCFTA secretariat – Govt
[N] Remain calm, support our leadership in Parliament – NDC Council of Elders
[N] Ghana hasn’t recorded any case of blood clots from COVID-19 vaccination – FDA
[N] 9-year-old boy burnt to death as stepfather sets house ablaze
[B] Budget cuts for legislature, judiciary won’t be entertained – Speaker
[I] Half of UK managers back mandatory Covid vaccines for office work
[I] Brussels to propose Covid certificate to allow EU-wide travel

2021-03-16

[I] Nick Candy leads £1m drive to oust London mayor Sadiq Khan
... go Back
 
Business

[ 2016-02-07 ]

Gov´t urged to streamline duty drawback regime
Businesses in the country are calling on the
government to streamline the documentary
procedures associated with the duty drawback
regime.

That, they said, would ensure quick refunds as
well as improve business operations and increase
revenue generation for companies that operated in
the export trade.

The businesses raised the concerns at a
sensitisation workshop on duty drawback organised
by the Ghana National Chamber of Commerce (GNCC),
in Accra.
One after the other, the participants took turns
to voice their concerns about the negative effects
of the duty drawback mechanism on business
operations.

A participant, Mr John Duah, told the Daily
Graphic after the event that due to the challenges
associated with the drawback, his company’s
revenue had reduced drastically.

Explaining further, he said, his company had
applied for the drawback for the past two years
but they were yet to receive their entitlement.
“This leaves majority of us (applicants) still
having our funds locked up with the government, a
condition which starved us of liquidity,” he
noted.

Advocacy action

The Chief Executive Officer (CEO), of the GNCC, Mr
Mark Badu-Aboagye, said due to the challenges
involved in the duty drawback regime, GNCC with
its partners had already started an advocacy
campaign to sensitise the public.

“An advocacy action had already been intensified
to reduce the bottlenecks and cumbersome nature of
the administrative procedures of the drawback
regime,” he said.

He said the chamber, with funding from Business
Advocacy Challenge (BUSAC), had conducted a study
on the duty drawback regime dubbed ‘Streamlining
the Duty Drawback Process in Ghana’.
The study was aimed at evaluating the operational
challenges and bottlenecks that had bedevilled the
implementation of the duty drawback framework.

Findings of the study

The study also revealed that a large number of
exporters who applied for the duty drawback over
the past two years had not received their due in
full.
The payment of drawback refunds could take about
10 months depending on follow-ups, the study
found.

In extreme cases, payment of refund could be made
after two years, while the shortest possible
period for refund was five months.
Another key concern the study highlighted was that
most of the manufacturers and business owners did
not have prior knowledge about the laws and
regulations governing the duty drawback regime.

"For instance, they do not know which of the
imported goods would be processed as re-exports
and on which drawback could be claimed," it
stated.
Another major challenge hampering the effective
implementation of the duty drawback scheme was the
insufficient funds in the escrow account to settle
drawbacks.

Source - Graphic online



... go Back

 
Add YOUR View here

Ghana Review International (GRi) is published by Micromedia Consultants Ltd. T/A MCL - a wholly Ghanaian owned news agency. GRi is an independent publication and is non-aligned to any political party or interest group, within or outside of Ghana. It is a reliable source of information for Ghanaians and non-Ghanaians alike. This magazine will be of interest to any person with an interest in Ghana, Ghanaians and Africans, wherever in the world they live. This website is the on-line arm of the publication. It contains news and reviews on Ghana and the international communities.

All pages are © Copyright Ghana Review International (GRi) 1994 - 2021