The Importers and Exporters Association of Ghana has accused the National Insurance Commission (NIC) of deliberately imposing a 1 per cent insurance cost charge on all imports coming into the country.
According to the Executive Secretary of the Association, Samson Asaaki Awingobit, the compulsory 1 per cent insurance cost charge is being implemented through the tripartite Memorandum of Understanding (MoU) signed between the National Insurance Commission (NIC), Ghana Shippers Authority (GSA) and the Ghana Revenue Authority (GRA).
Dubbed the Marine Cargo Insurance Protocol, the MoU is to boost on insurance penetration and revenue mobilisation efforts and ensure that all cargoes coming and leaving the country are insured by local insurance companies. .
In a press release dated February 17, 2021, the Association states that the 1 per cent compulsory insurance cost seeking to be implemented by the NIC, GSA and Customs Division of the GRA through the Marine Cargo Insurance Protocol, is aside already calculated insurance costs factored into the Customs Value of imports paid by importers at the ports.
The Association noted that the NIC through the Protocol is seeking to enjoy economic benefits from the 1 per cent imposed insurance cost charges.
Read below details of the press release:
press release by Fuaad Dodoo on Scribd
press release by Fuaad Dodoo on Scribd
Press Release c by Fuaad Dodoo on Scribd
