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Business News of Sunday, 14 October 2018

Source: Graphic.com.gh

Cargo Tracking Note Policy starts Monday

The Commissioner-General of the Ghana Revenue Authority (GRA), Emmanuel Kofi Nti has served notice that the Cargo Tracking Note (CTN) policy will start on Monday, October 15, 2018, despite a suit challenging its implementation.

According to a public notice signed by Mr Nti, the policy is to provide greater scrutiny of major imports for both valuation and security management purposes.

Per the policy, importers whose imports, from records exceed thirty-six (36) Twenty-Foot Equivalent Units (TEUs) per year will be required to obtain a CTN Number in the country of export.

"This means, any importer who imports less than 36 TEUs per year is exempt from CTN compliance. Further, businesses that import more than 36 TEUs per year but can demonstrate that the nature of their imports and their turnovers make them small importers will be exempt," the notice said.

"Those exemptions are to ensure that our small and medium scale importers, mostly petty traders, our market women and men, small distributors, and other small to medium businesses are free from the requirements of this intervention".