GRA Chamber of Commerce demands interests for late duty drawback payments

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The Ghana Chamber of Commerce is demanding  that the Ghana Revenue Authority pays interest on duty drawbacks owed them.

According to the Chamber, delays in the payment of the drawback duties have  had dire consequences for their businesses. They say only 48% of business operators have received their claims.

READ MORE:Ghana Rent Tax GRA raises GHC4.3m in seven weeks

President of the Ghana Chamber of Commerce, Nana Dr. Appiahgyei Dankawoso I, said “just as if someone has not paid his/her taxes for a certain period of time, penalties are imposed on them, if the drawback delays beyond two years, we want to sit down with them (GRA) to see if anything could be done about that by way of penalties or interests being paid to us”.

The duty drawback is the refund of duties and taxes paid on raw material or inputs that are used in the manufacture of scarce goods or exported substitution goods. It is one of the trade policy instruments being used to enhance the competitiveness of Ghana’s exports.

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