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”.
A Freelance Journalist, Entrepreneur and Philanthropist. Editor-in-Chief of www.233times.com. A contributory writer for Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. He holds first degree in Bachelor of Arts from the University of Ghana; Political Science (major) and History (minor). He has also pursued MSc Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) at the Robert Gordon University in the United Kingdom. His mentors are Rupert Murdoch, Warren Buffet, Sam Jonah, Kwaku Sakyi Addo and Piers Morganview all posts by: Nana Kwesi Coomson
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