JOYBUSINESS ADVISORY SERIES: SMEs urged to maximize importation incentives

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Senior Manager, Tax and Regulatory at Deloitte, Joachim Owusu Afriyie, has emphasized the need for Small and Medium Enterprises (SMEs) to fully leverage incentives available during the importation process.

Speaking on the JoyBusiness Advisory Series, a dedicated 2-week program designed to equip SMEs with critical financial and business development insights for 2025, Mr. Afriyie highlighted the significant cost savings and strategic benefits these incentives provide.

"We have what we call noncompliance fees, for example, in Ghana, when you bring in your goods you have seven free days to clear your goods. If you work within that free days you don't pay additional fees.

We have what we call suspension regimes in the customs space, it simply means that you can import your goods without paying duties upfront, so you can put your goods in what we call the customs bonded warehouse "

He advised SMEs to familiarize themselves with policies and procedures to optimize their import operations, ensuring compliance while reducing costs.

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Deloitte

Joachim Owusu Afriyie