Revenue collected at Ghana’s ports by the Customs Division of Ghana Revenue Authority (GRA) has increased by 13.2% in the first six months of this year compared to same period last year.
The revenue collected went up from GH₵5.2 billion (GH₵5,252.43 million) in the first half of 2017 to GH₵5.9 billion (GH₵5943.32 million) during the same period this year.
[contextly_sidebar id=”6z1fQGVxqwpM9DlaBLnLIAsEDaYcFEMH”]Customs Division’s Monthly Import Revenue Performance data seen by The Finder indicates that GH₵690.89 million more has been collected in the first half of this year, compared to last year.
This development portends an increase in total revenue to be collected by customs at end of the year.
The Paperless Port was made possible through the integration of the operations of Ghana Community Network Services Limited (GCNet) and Customs World of Dubai, which took over the operations of West Blue Consulting.
Compared to last year, the months in the first half of 2018 recorded revenue increases of between five and 26%.
January recorded 15.50% revenue increase
The revenue for January 2018 hit GH₵932.37 million, an increase of GH₵124.78 million, representing 15.50% growth over the GH₵807.59 million collected in January 2017.
February records 9.50% increase
The Monthly Import Revenue Performance data shows a 9.50% increase in February 2018 revenue.
The amount collected in February 2017 was GH₵769.40 million, but this went up to GH₵842.57 million in February 2018, a difference of GH₵73.17 million.
March experienced 9.60% increase
For the month of March, the revenue collected experienced a 9.60% upward adjustment from GH₵858.52 million in 2017 to GH₵940.81 million in 2018, which represents GH₵82.29 million additional collections.
April witnessed 12.30% revenue increase
There was GH₵95.53 million increase in revenue collected in April 2018, amounting to GH₵874.73 million, representing a 12.30% growth as compared to GH₵779.20 million in the same month in 2017.
May records 26% jump
May 2018 witnessed a 26% revenue jumped to GH₵1.2 billion (GH₵1,248.70million) from the GH₵991.04 million recorded in 2017, a difference of GH₵257.66 million.
June records 5.5% increase
The Monthly Import Revenue Performance data reveals that June recorded additional revenue of GH₵57.46 million, representing 5.5%.
It increased from GH₵1 billion (GH₵1,046.68 million) in June 2017 to GH₵1,104.14 million in June 2018.
The improved revenue performance depicts the synergy that has been built at the country’s sea and air ports by the various service providers to ensure a seamless process, reduced time and cost of doing business at the ports.
In 2017, out of the GH₵32.3 billion collected by GRA, Customs Division alone collected GH₵11.435 billion from the various ports and entry points, reflecting a growth of 27.6% from GH₵8.961 billion in 2016.
Customs Division of GRA hopes to achieve almost 30% growth in revenue collection by the end of 2018.
Contribution of Paperless Port System
The ongoing Paperless Port is said to be contributing significantly to the rise of customs revenue in 2018.
All stakeholders at the port have agreed that the implementation of Paperless Port System as a trade facilitation tool is the way forward to sanitise the cumbersome processes, block leakages and improve collections at the port.
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Source: The Finder Newspaper
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