• About Us
  • Contact Us
Account
GTB
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
No Result
View All Result
Account
Ghana Talks Business
No Result
View All Result

Presidential task force uncovers GH₵63 million fraud

11/08/2014
Reading Time: 2 mins read
405
SHARES
Share on FacebookShare on TwitterShare on WhatsApp

The special operations unit at the office of the president has initiated steps to retrieve more than GH₵63 million of duties fraudulently withheld by importers.

 

The fraud was perpetuated at three bonded warehouses in Accra. The companies imported the goods into the country with the claim of re-exporting those goods into neighbouring countries.

 

Speaking to Joy News, presidential staffer and spokesperson for the special operations unit Dr. Clement Apaak said the unit found out that “most of the goods imported never left the country”.

 

He said last year alone the nation was able to retrieve more than GH₵700 million from bonded warehouses.

 

The special unit was tasked by President Mahama to identify leakages and loopholes in the revenue collection system, plug such leakages and recommend strategies for minimizing revenue losses to the state.

 

Under Ghana’s bonded warehouse system, companies are required to make declarations in the Ghana Customs Management System using the re-exportation code (37).

 

Companies engaged in re-exportation are also required to list the vehicles used in the transaction of the various imports.

 

The defaulting companies Dr. Apaak said will be made not only to pay the principals but will be thoroughly investigated by the Ghana Revenue Authority (GRA).

 

“Per the law the defaulting companies are not required to pay only the principal but there are penalties that are served by GRA and Customs which they have to pay. The CID continues to invite the defaulting companies, continues to take statements, they continue to pay but the processes are going on and prosecution will take place”.

Previous Post

SIC Insurance to return to product lines

Next Post

Sara Nana Yeboah eyes Viasat 1 Game Changer top prize

Related Posts

Africa's top 10 investment destinations, ghanatalksbusiness.com

CEOs reveal Africa’s top 10 investment destinations

28/06/2022
StockNow App, ghanatalksbusiness.com

StockNow to bring affordable working capital to Africa’s informal retail market

28/06/2022
Financial risk management, ghanatalksbusiness.com

Finance, Risk, and Financial Risk Management: From a Business Manager’s Standpoint

27/06/2022
5G Mokki

5G Mokki, the African Technology Space Network that will impact Global Businesses

20/06/2022
African consumers, ghanatalksbusiness.com

‘State of the African Consumer’ Report Issued by Kasi Insight

17/06/2022
WhatsAppreneurs, ghanatalksbusiness.com

WhatsAppreneurs – Business Owners set to get more from WhatsApp Business App

16/06/2022
Next Post

Sara Nana Yeboah eyes Viasat 1 Game Changer top prize

Tougher times ahead — AGI

  • About Us
  • Disclaimer
  • Privacy Policy
  • Advertising
  • Contact Us

© 2021 Ghana Talks Business

No Result
View All Result
  • Home
  • News
  • Premium
  • Business
  • Personal Finance
  • Lifestyle
    • Travel
    • Health
    • Retail/Fashion
  • Podcast
    • Business Chat
    • Retiring Richly
    • Sika Nkommo
  • Videos
  • Analysis/Features
  • Login

© 2021 Ghana Talks Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In