WHEREAS the Petroleum Taxation Law 1993, (P.N.D.C.L. 319) provides for the raising of Government revenues by the imposition of taxes, charges, duties or other levies on petroleum and petroleum products for payment into the Consolidated Fund or such other fund as may be established by law;

WHEREAS the 1993 financial estimates announced on 5th January 1993 include revenue totalling ¢216 billion to be realised from such taxes, cheques, duties or other levies on petroleum and petroleum products;

NOW THEREFORE, in exercise of the powers conferred on the Provisional National Defence Council Secretary responsible for Finance and Economic Planning by section 2 of the Petroleum Taxation Law, 1993 (P.N.D.C.L. 319) this Instrument is made this 5th day of January 1993.

Section 1—Rates of Excise Duty on Petroleum Products.

Excise duties at the rates indicated in this paragraph in relation to the various petroleum products specified are to be collected by the Customs, Excise and Preventive Service (C.E.P.S.) and paid to the Consolidated Fund.

 

Premium     ..     ..    ..                199.73            Residual Fuel Oil   ..    ..        ..        57.94       

Kerosene     ..    ..     ..               120.83           Liquified Petroleum Gas ..    ..       199.73        

Gas Oil        ..     ..    ..               159.02                       

Aviation Turbine Kerosene ..    135.10            

 

Section 2—Collection of Stock Levy.

A levy known as strategic stock levy, of 3.50 per litre of product in respect of all    petroleum products except liquified petroleum gas is to be collected by the Ghana National Petroleum Corporation (G.N.P.C.) or the purpose of meeting local costs of the construction of strategic stock depots.

Section 3—Exploration Levy.

A levy known as the Exploration levy of 1.50 per litre of product in respect of all petroleum products except liquified petroleum gas, is to be collected by the G.N.P.C. towards the undertaking of exploration projects by the Corporation.

Section 4—Levy on Liquified Petroleum.

A levy in respect of liquified petroleum gas sales at the rate of 55.79 on each kilogram is to be collected by the G.N.P.C. for the promotion of liquified petroleum gas utilisation in Ghana. Disbursements of this fund shall be as directed by the Ministry of Energy.

DR. KWESI BOTCHWEY

P.N.D.C. Secretary for Finance and Economic Planning