New exchange rates for port duties are lamented by importers and exporters.

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The Importers and Exporters Association of Ghana (IEAG) has called the GRA Customs Division decision to revise the exchange rate for port duties upward as terrible.

New exchange rates for port duties are lamented by importers and exporters.
New exchange rates for port duties are lamented by importers and exporters.

According to the IEAG, the review of the exchange rate for import tariffs from GHS 8.29 to GHS 9.54 will result in an increase in the price of products and services for the Ghanaian people.

Because some freight forwarders (clearing agents) have produced documented evidence indicating that they were forced to pay an additional 25,000 Ghanaian shillings in duties as a result of the abnormal increase in the exchange rate, we as an association find this sudden adjustment by Customs to be appalling.

In a statement released on Wednesday, September 28, 2022, the IEAG stated that “some even had to pay in the excess of 107,613 ghc from an initial duty of 78,567 ghc, while others had to pay a whopping 102,181.08ghc for an initial duty of 88,446.09ghc.”

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