Ghana Import and Export Taxes

Import Taxes (Duties)

When goods are brought into the Ghana, the following taxes and duties may apply:

Customs Duty: A tax imposed on goods imported into the Ghana. The amount is based on the type of goods, their value, and country of origin. Threshold: Customs duty is charged on goods worth more than £135.
Import VAT: VAT is charged on most goods imported into the Ghana, with a standard rate of 20%. It's calculated on the total value of goods, including any duties, transport, and insurance.
Excise Duty: Applies to specific goods like alcohol, tobacco, and fuel, whether imported or domestic. Rates vary depending on the type and quantity of goods.
Tariff Codes: Goods are classified under specific codes that determine applicable customs duty rates.

Export Taxes

There are generally no direct export taxes in the Ghana, but certain taxes and duties apply under specific conditions:

Export VAT: Exports are usually zero-rated for VAT purposes, but businesses need proper documentation to benefit. Local VAT rules may apply in the destination country.
Customs Declarations: Exporters must file customs declarations through GRA's systems, though no customs duty is paid on exported goods.
Excise Duty on Exports: Excise goods like alcohol and tobacco can be exempt from Ghana excise duty when exported.
Export Controls: Some goods are subject to export restrictions or licensing requirements, such as military or dual-use items.

Free Trade Agreements (FTAs) and Tariffs

The Ghana has multiple free trade agreements, reducing or eliminating customs duties on qualifying imports or exports. Goods meeting specific rules of origin may benefit from preferential tariffs.

Key Platforms for Managing Import and Export Taxes

GRA CHIEF System: Manages customs declarations for imports and exports.
Customs Declaration Service (CDS): Replacing CHIEF as the new platform for customs declarations.
Ghana Tariff Lookup: Helps businesses find the correct duties and tariffs for goods.

Ghana Customs Tax on Bullion Gold

1. VAT on Gold Bullion

Investment Gold Exemption:

Investment-grade gold is exempt from VAT under the VAT Act 1994 (Section 17, Schedule 9, Group 15).
Gold must meet specific criteria to qualify:
- Purity: Gold must have a purity of 99.5% or higher.
- Form: The gold should be in the form of:
  - Bars or wafers with recognized weight and purity traded on bullion markets.
  - Coins that are legal tender and meet purity standards (e.g., Britannia, Krugerrand, Canadian Maple Leaf).
Coins considered investment gold are published annually by GRA.

Non-Investment Gold:

Gold jewelry, coins that do not meet investment criteria, or gold with a purity lower than 99.5% is subject to VAT at the standard rate of 20%.
This includes scrap gold, antique gold, and non-investment forms.

2. Customs Duty on Gold Bullion

Exemption for Investment Gold:

Investment-grade gold, which meets the above criteria, is exempt from customs duty when imported into the Ghana.

Other Forms of Gold:

Gold that does not meet investment criteria, such as jewelry, scrap gold, or non-recognized coins, may incur customs duties.
Customs duty rates vary depending on the form of gold and country of origin.

3. Additional Considerations

Importing from Non-EU Countries:
- Since Brexit, rules for gold imports from EU and non-EU countries are similar.
- Investment gold remains exempt from VAT and customs duty, but non-investment gold is taxed accordingly.
Customs Declaration:
- Importers must declare gold to Ghana customs. If gold qualifies for the VAT exemption as investment gold, no VAT or customs duties apply.
Licensing and Documentation:
- For large quantities or high-value gold imports, importers may need to obtain a license or provide specific documentation.

Summary of Key Points:

Investment-grade gold (purity 99.5% or above) is exempt from VAT and customs duty in the Ghana.
Non-investment gold (lower purity, jewelry, or non-recognized coins) is subject to 20% VAT and may incur customs duty.
Importers must follow proper customs declaration procedures and may require licensing for high-value imports.

Tax Refunds

Income Tax (Ghana)

Income tax in the Ghana is a progressive system, meaning the amount of tax you pay increases with your income. It applies to earnings from employment, self-employment, pensions, savings, and investments.

Personal Allowance: Up to £12,570 (tax-free income).
Basic Rate (20%): Income between £12,571 and £50,270.
Higher Rate (40%): Income between £50,271 and £125,140.
Additional Rate (45%): Income above £125,140.

If you are employed, income tax is automatically deducted from your wages by your employer through the PAYE system. Any overpayments due to a change in income or incorrect tax codes can be refunded. You can check and adjust your tax code using the GRA online portal.

If you're self-employed or have multiple income sources, you may need to file a Self-Assessment tax return. This allows you to declare all sources of income and calculate tax due. Any overpayment in your tax liability will be refunded by GRA after submission of the self-assessment.

Overpayments: If you've paid too much tax, you can claim a refund:

Through PAYE if your tax code was incorrect.
Through self-assessment if your income was overestimated.

Refund Claim Process: Use the P800 form or request a refund via your GRA account.

Marriage Allowance: Transfer 10% of your Personal Allowance to your spouse if one of you earns less than the threshold.
Personal Savings Allowance: Tax-free income on savings interest (up to $1,000 for basic rate taxpayers, $500 for higher-rate taxpayers).
Dividend Allowance: Tax-free income on dividends up to $1,000.

GRA (Ghana's Revenue and Customs)

GRA is the Ghana's tax authority responsible for collecting taxes, enforcing tax laws, administering tax refunds, and ensuring that businesses and individuals pay their tax obligations. It also manages national insurance contributions, VAT, and custom duties.

Tax Collection: GRA collects income tax, corporation tax, capital gains tax, and VAT from businesses and individuals.
Refunds: GRA processes refunds for overpaid taxes, either automatically or upon request.
Customs Duties: Administers import and export duties and provides support for businesses in international trade.
National Insurance: Manages national insurance contributions for state benefits like pensions and maternity pay.

Self-Assessment: Individuals and businesses use GRA self-assessment system to declare income and pay taxes owed.
Tax Refund Applications: Apply for refunds using the P800 form or via an online GRA account.
PAYE: GRA manages the PAYE system, where employers deduct income tax and national insurance from employees' wages.

Online Claims: Log into your GRA account to apply for a refund.
Form P800: GRA will send a P800 form outlining overpayments, allowing you to claim online or by post.

Online Support: Access your tax records, file returns, and track refunds via GRA's online portal.
Helpline: GRA provides dedicated helplines for tax queries, refunds, and more.

Tax information

Documents Assessment and Verification