Documents obtained by GhanaWeb indicate that over 1,300 companies were cited by the Ghana Revenue Authority (GRA) for perpetrating fraud using the Import Declaration Forms (IDF) regime between 2021 and 2024.
To ensure accurate tax calculations, compliance with import regulations, and facilitate the clearance of goods through customs, the Ministry of Trade and Industry issues IDFs to importers.
As a regulatory requirement for customs reconciliation, the document, among other things, indicates the type, quantity, and cost of goods and aids commercial banks in transferring funds on behalf of importers for the purchase of their goods.
However, available details indicate that this regime has become an avenue for tax evasion, under-invoicing, and money laundering by some importers.
