Business News of Wednesday, 10 June 2020Source: www.ghanaweb.comICUMS has recorded 1,452 transactions at land borders - CustomsFile photoCustoms Division of GRA has disclosed that the new Integrated Customs Management Systems (ICUMS), has registered 1,452 transactions at the land frontiers since it was deployed. “Whereas previously, a post-entry is required to update change in the exchange rate, ICUMS does that automatically and generates a new Bill of Tax. “So long as a BOE goes through Classification and Valuation process, the payment of this fee is required,” he stressed. Mr Ohene explained that the tax base for the calculation of ad-valorem taxes in Ghana has not changed and is duly enforced in the ICUMS. He said every transaction done in ICUMS including Import Assessment Tax (TVI) is issued with their required Certificate.

Source: GhanaWeb June 10, 2020 16:30 UTC