1E9Ct5D

services exported or shipped as stores on vessels and aircraft leaving Ghana are exempt from payment of importduties.Generally, items produced for consumption attract VAT. Similar items imported into Ghana attract import VAT atthe rate of 12.5 per cent on the value of the imported item. Excise duty also is payable on all locally manufactured orproduced goods, unless the goods are exempt.This duty is calculated on the ex-factory price of goods. Items subject to excise duty include tobacco products suchas cigarettes. On application to the relevant tax authority and subject to such conditions as may be imposed, noexcise duty will be payable on any goods manufactured in Ghana and shipped as stores for consumption outsideGhana on a ship or aircraft proceeding to a place outside Ghana, on goods exported by their manufacturer, or ongoods permitted to be used free of duty and so used.However, excise duty becomes due and must be paid by the manufacturer to the Commissioner before the goods aredelivered from the factory or warehouse. The Commissioner may permit some goods to be warehoused withoutpayment of duties on them or before they are used by the manufacturer in his factory or warehouse for any purpose.This provision is currently applicable to cocoa and petroleum products.For customs purposes, in computing the value of goods to be exported, the cost of the goods must include freightcharges incurred for transport up to the port or place of exportation, harbor dues, loading charges, and all other costs,profits, charges, and expenses and duties accruing up to the point where the goods are deposited on board theexporting vessel, aircraft, or vehicle at the place of departure from Ghana.In addition, the value of imported goods is their transaction value (i.e., the price actually paid or payable for thegoods when sold in the country of origin for export into Ghana). If the transaction value cannot be obtained, thecustoms value may be based on: The transaction value of similar goods sold for export into Ghana and exported at or around the same time as thegoods being valued; When the imported goods or identical or similar imported goods are sold in the country in the condition asimported, the unit price at which the goods are sold; or Computed valuation.Computed valuation includes the cost or value of materials and fabrication or other processing employed inproducing the imported goods; an amount of profit and general expenses equal to that usually reflected in sales ofgoods of the same class or kind as the goods being valued which are made by producers in the country ofexportation for export to the country of importation; and the cost or value of other expenses necessary to reflect thevaluation.In computing the duties and taxes on imported goods, three factors must be taken into consideration: cost, insurance,and freight (CIF) value; rate of customs duty; and the quantity (i.e., weight, number, measurement, and similarphysical attributes).When the goods attract duty, the rate of duty may take one of three forms: ad valorem, which is according to value(per cent applied to the value); specific rate, which is the rate applied to the physical attributes (such as per liter, perkilogram, per ton, per square meter); and alternative rate, which is either ad valorem or a specific rate, whicheverwill attract the higher or lower duty as stated by the tariff. When the rate is ad valorem, the duty is calculated on a