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Prepared by Roman Arjona-Gracia, Anthony Pellechio, and Allan Crego (World Bank).
The simple and import-weighted averages are calculated using the formula ∑iwiti/W and w = ∑iwi where i indexes the statutory tariff rates and wi equals the number of lines in the tariff schedule at rate ti for the simple averages, and the c.i.f. value of imports at rate ti for the import-weighted averages.
The analysis in the remainder of this study is based on the Automated System for Customs Data Management (ASYCUDA) data set provided by the Ghana Statistical Service. This data set consists of all transactions in 1997 at the three main ports in Ghana (Tema, Kotoka International Airport, and Takoradi) and covers more than 95 percent of the total imports. Aggregate figures derived from this data set differ in value from similar figures reported by the customs administration. These differences are under review by Fund and Bank staff in collaboration with Ghanaian authorities. The outcome of this review is not expected to alter the main empirical results and conclusions of this study as it relies on statistics calculated as ratios or shares whose values are unlikely to change significantly.
The analysis excludes petroleum products which are subject to special excises and fees, but not to either specific or ad valorem import tariffs. All petroleum product imports take place at the Tema Oil Refinery, the state oil refinery that has a monopoly in the importation of petroleum products.
It is important to note that the Ministry of Finance has no discretionary powers to grant exemptions. Exemptions classified under Ministry of Finance cover exemptions from all other ministries, departments, and agencies under various contractual agreements. They also cover nongovernmental organizations, as well as exemptions granted by parliament. Only parliament has the power to grant exemptions under the Constitution of Ghana.
With regard to VALCO, the Government of Ghana is bound by the Master Agreement that was signed in 1964.