Fish landings by local vessels exempt from VAT - Minister

Accra (Greater Accra), 11 Jan. '99

All fish landings from vessels licensed by the Ministry of Food and Agriculture (MOFA) within Ghana's Exclusive Economic Zone (EEZ) will be exempted from the Value Added Tax in accordance with the VAT Law.


A statement issued in Accra today by the Minister of Food and Agriculture, Mr J.H. Owusu-Acheampong, said the agreement was reached after a meeting held with stakeholders on Friday, January eight.


It was attended by technical experts from the Ministries of Food and Agriculture, Finance, Attorney General's Department, and representatives from the Customs, Excise and Preventive Service (CEPS), VAT Service and the fishing industry.


The meeting agreed that all landings from vessels licensed by MOFA to fish outside Ghana's exclusive economic zone will, however, attract VAT.

The statement said all fish imports will also attract 10 per cent VAT. It was also agreed that the VAT Service and CEPS are to make the necessary arrangements to enable vessels currently at Tema Harbour with fish that is tax exempt to discharge them without paying the 10 per cent VAT.


The VAT Service and CEPS are also to ensure that all other vessel owners pay the 10 per cent VAT in accordance with the law.


Last week, locally registered vessel owners protested against the payment of 10 per cent VAT while CEPS insisted that they had to pay.


The owners quoted a portion of the VAT Law which exempts them from paying the tax . Last Friday's meeting upheld that contention.