GCNet returns value to Gov’t

Ghana Community Network Services Limited (GCNet) has presented a cheque for GH¢2million to government.

The amount represents the 2010 dividend payment due government through shareholding held by the Ghana Revenue Authority (GRA) in GCNet.

This brings the total dividend payment made to Government through the GRA’s shareholding to nearly GH¢20 million since 2010.

At the cheque-presenting ceremony in Accra, the Executive Chairman of GCNet, Mr. Nortey Omaboe, said that besides the GRA dividend, government also receives additional dividend payment through its shareholdings held by the Ghana Shippers’ Authority and the Ghana Commercial Bank in GCNet.

He indicated that the total dividend received by government for 2010 amounted to GH¢3.5million.

Mr. Omaboe outlined a number of measures that GCNet is undertaking as part of its service to support government’s revenue mobilisation.

These include the on-going automation of the Domestic Tax Revenue Division of the GRA and introduction of the Customs Valuation Assurance Programme (VAP) last year.

He also observed that the VAP has been a resounding success and has contributed in no small measure in helping GRA (Customs Division) to meet its 2010 revenue targets and to be on course for its 2011 revenue targets.

Receiving the dividend on behalf of government, Minister of Finance and Economic Planning, Dr. Kwabena Duffour, expressed appreciation for GCNet’s contribution toward government’s revenue mobilisation efforts.

“Revenue is critical for the good performance of the economy and the achievement of various macro-economic targets,” he said.

He urged GCNet to re-double its efforts at ensuring that it deploys systems which will help to realise government’s revenue targets, adding that GCNet must make concrete suggestions that help to plug all revenue loopholes.

GCNet was incorporated in November 2000 as a private-public partnership to develop and operate a customised electronic system for processing trade and customs documents.

Its shareholders include Customs, Excise and Preventive Service (CEPS); Ghana Shippers Council; Ecobank Ghana Limited; Ghana Commercial Bank; and Société General de Surveillance (SGS).