COMAC pushes for suspension of sections of Customs Act 2026

The Chamber of Oil Marketing Companies (COMAC) has urged the Ghana Revenue Authority (GRA) to suspend certain sections of the Customs Act 2026 due to a lack of industry consultation. COMAC opposes Section 136 of the act, which aims to shift the downstream petroleum tax obligation from oil and LPG Marketing Companies to Bulk Import, Distribution and Export Companies (BIDECs).

COMAC argues that this change lacks proper consultation and could have severe consequences for operators, the industry, and the national economy. The organization specifically raises concerns about the requirement for BIDECs to account for tax at the point of sale and the Commissioner-General's ability to defer payment for up to 21 days via a bank guarantee.

COMAC maintains that these changes shift liability from OMC/LPGMC guarantees to BIDECs, potentially leading to financial instability. The chamber also expresses concerns about enforcement, fiscal distortion, and double collateralization, as well as inconsistencies in the act's provisions. Despite these objections, COMAC remains supportive of the overall Customs Act and calls for a collaborative approach to ensure compliance and revenue mobilization.