GCNet presents GH¢1.9m dividend to government
The Ghana Community Network Services Limited (GCNet), operators of electronic system for processing trade and customs documents, on Thursday presented a dividend of over GH¢1.9 million to government.
The amount covered a final dividend of GH¢740,000 for 2008 and an interim one of GH¢1.2 million for 2009.
Mr Nortey Omaboe, Executive Chairman, said GCNet, which is a public-private partnership, helped in the quick clearance of goods at the ports through its automated system and also ensured that various regulatory processes were adhered to.
The GCNet aims at fully computerizing the operations of Customs, Excise and Preventive Service (CEPS) to eliminate bureaucracy to reduce the period for the clearance of goods to enhance revenue collection.
It also allows the issue of paper-based permits, licences and exemptions electronically, to reduce abuses and inherent revenue leakages associated with the paper-based manual processes.
Mr Omaboe said that the GCNet system had helped to improve revenue collection.
Mr Seth Tekper, Deputy Finance Minister, lauded the role of the GCNet in the collection of customs duties as well as in trade facilitation.
He said the change from pre-shipment to destination inspection placed a lot of demands on the GCNet to meet public expectation and at the same time improved revenue collection through the elimination of unfair practices such as under invoicing.
Mr Tekper said government would soon announce a major policy initiative that would bring together the administration of domestic taxes under a National Revenue Authority.