• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

ICUMS generates Ghs 10.5 billion for GRA despite Covid-19 impact on trade volumes

5 years ago
in Business, highlights, Home, home-news, latest News, Maritime, Technology, Trade
2 min read
0 0
0
86
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Data emerging from the Ghana Revenue Authority (GRA) shows the total revenues generated by the Integrated Customs Management System (ICUMS) for the GRA has reached a record high of some Ghs 10.5 billion as at December 12, 2020.

This consist of some Ghs 7.6 billion for the Customs Division of the Ghana Revenue Authority from import duty generated of goods in and out of Ghana, with the rest being revenues generated by Domestic Tax Revenue Division (DTRD) of the GRA raising some Ghs 2.7 billion through the ICUMS and Non GRA revenues which is also hovering around a little over Ghs 140 million.

It is instructive to note that, the GRA in June 2020 had through a press conference which was addressed by the Commissioner-General claimed that prior to the switch over to the new platform (ICUMS), its predecessor, the National Single Window System operated by GCNet in partnership with West Blue Consulting, was generating a monthly average amount of Ghs 940 million.

This new data justifies government’s decision to have the new platform deployed by South Korea’s CUPIA in collaboration with its local partner, Ghana Link Network Services Ltd, despite the resistance from stakeholders during the roll-out and the technical challenges the system faced by the team when the ICUMS went live nationwide June 1, 2020, not forgetting that the clearing and forwarding community also expressed dissatisfaction.

Today government officials and the GRA itself have become enthused with the revenue performance of the ICUMS pointing out that it has improved despite the adverse impact of the COVID 19 pandemic on trade volumes.  This, they argue, suggests even better revenue improvement when the pandemic eventually subsides.

Apart from June 2020, when revenue generated by the ICUMS drop by almost 4% below what was generated same period in 2019 which is as a result of the challenges which dogged the deployment at Tema, the current data for the rest of the year has seen an upward trend in revenue performance.

Comparing year on year you will see that in July 2020 while the ICUMS generated over Ghs 1.1 billion, while the GCNet and West Blue put together generated duty payments of Ghs 949 million. This represents a 23% increase for the ICUMS.

RelatedPosts

Ranked: Top 10 Gold Mining Companies of 2025

Gold Price Sets Another Record on Flight to Safety

Ghana Football Association Introduces Minimum Salaries: GHS 1,500 for Premier League, GHS 700 for Division One and Women’s Leagues

Again, in August 2020 the percentage increase in revenues by the ICUMS was around 32%, generating duty payment of some Ghs 1.2 billion while the old vendors (GCNet and West Blue) raised Ghs 952 million year on year (August 2019).

In September 2020 ICUMS generated above Ghs 1.2 billion representing some 35% increase of revenue compared to the Ghs 920 million duty payments in the same period in 2019.

Still on the year-on-year comparison, November 2019 was the best performance of the old vendors as they raised a little over Ghs 1 billion but again they were out performed by the ICUMS of Ghana Link Network Services Ltd which generated some Ghs 1.2 billion representing an increase of 26% in percentage terms.

In October 2020 the ICUMS raised 35% (Ghs 1.3 billion) in revenues higher than what the GCNet and West Blue (Ghs 980 million) generated for the government.

Coming from the election and going into 2021, public revenue collection has become even more crucial for government than usual as the impact of the coronavirus outbreak has drastically limited its traditional sources of revenues even as its health and social intervention spending have been driven upwards dramatically and has seen the debt levels also balloon.

Just last week, the Assistant Commissioner of Customs in charge of the Accra Sector Command who is also the ICUMS implementation Committee Chairman Mr Emmanuel Ohene in an interview with the media hailed the success of the Integrated Customs Management System (ICUMS), which he said has significantly transformed trade facilitation.

The success of the system according to him, includes elimination of the multiple routes prior to payment of duties, seamless processes, increasing revenue, speedy processing of pre-manifest declaration, and undertaking classification and valuation in the same system, among others.

2nd phase of ICUMS to be done by first quarter of 2021

Mr Ohene has told the media that after a successful implementation of the phase one of the ICUMS, the trading public should expect the second phase to be rolled-out by the first quarter of 2021.

While admitting to some genuine complaints of the trading public regarding the new system, he pointed out that the ICUMS was significantly progressive with regard to trade facilitation in Ghana.

He therefore encouraged users of the system to be hopeful as the introduction of the second phase of the system, would see the few challenges fixed, as well as many added innovations

The ICUMS was first deployed at the various frontiers in March 2020 following a successful pilot at Aflao and Elubo a month earlier in February. In April, Takoradi having undergone simulations and stress test also took off. Then finally Ghana’s biggest port in terms of size and ability to accept cargo volumes was hooked onto the ICUMS system on June 1, 2020.

Source: norvanreports
Tags: GCNetGhana LinkGhana Revenue AuthorityICUMS
No Result
View All Result

Highlights

CEOs, Executives, and Entrepreneurs Set to Gather for Transformative Leadership Dialogue in Ghana

Morocco Breaks Into Africa’s Gold Powerhouses With Discovery Of High-Grade Deposits

Repealing Ghana’s Forest-Reserve Mining Regulations: Navigating the Path From L.I. 2462 to L.I. 2501 and Beyond

Gov’t Moves to Merge Telecel Ghana and AT Ghana to Stem Losses, Protect Jobs

GTDC Launches New Tourism Platforms and Awards Scheme to Boost Sector Competitiveness

US Open: Osaka Reaches Last Four; Anisimova Upsets Swiatek to Reach Semis

Trending

Business

Ranked: Top 10 Gold Mining Companies of 2025

September 4, 2025

Ranked: Top 10 Gold Mining Companies of 2025 Gold has run a remarkable rally throughout 2025, ascending...

Gold Price Sets Another Record on Flight to Safety

September 4, 2025

Ghana Football Association Introduces Minimum Salaries: GHS 1,500 for Premier League, GHS 700 for Division One and Women’s Leagues

September 4, 2025

CEOs, Executives, and Entrepreneurs Set to Gather for Transformative Leadership Dialogue in Ghana

September 4, 2025

Morocco Breaks Into Africa’s Gold Powerhouses With Discovery Of High-Grade Deposits

September 4, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.