Barring any last minute hitch, The ECOWAS common external tariff is expected to be implemented come this June. The
tariff rigime which was initially proposed to be operational by the beginning of the year faced some technical challenges that necessitated its postponement to June of this year. The policy which was signed by head of States in 2006 is expected to be a tool for the creation of a common market by harmonizing customs operations (tariffs) within the sub region.
With the implementation of this policy, goods originating outside the region would attract the same tariffs irrespective of the member country it is destined to. Also goods originating from one member country into another would not attract any duty which would go a long way to improve intra regional trade in the sub region.
This policy according to the customs would minimize the challenge of cross boarder smuggling since duty charged on goods would be the same no matter the country you take it through while it is also expected to increase government tax revenue.
The country’s ministry of finance projects a GHC986 million in revenue accruing from the implementation of this policy in 2015.
In the mean time, Over 8 countries out of 15 ECOWAS countries have so far met the January 1st 2015 deadline and with Ghana coming on board, the rest of the regions’ states would be expected to join soon.
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