(1) There is imposed by this Act on the petroleum products specified in column 1 of Schedule 1 ad valorem duty of 15% of the ex-refinery price of the products.
(2) The ad valorem duty shall be collected by the Customs, Excise and Preventive Service at the strategic storage depots for petroleum products provided for under the Energy Commission Act, 1997 (Act 541).
Section 2 - Imposition Of A Fixed Tax On Petroleum Products(1) There is imposed by this Act on the petroleum products specified in column 1 of Schedule 1 the fixed amounts specified in relation to them in column 2 of the Schedule as petroleum tax per litre of the products.
(2) The fixed amounts shall be payable to the supplier by the person to whom the product is supplied.
(3) The supplier is liable to account for the amounts to the Commissioner of Customs, Excise and Preventive Service at the time and place as the Commissioner shall determine.
Section 3 - Imposition Of Energy Levy(1) There is imposed by this Act on every litre of the petroleum products specified in Schedule 1 other than Liquified Petroleum Gas (LPG) an energy levy of ₵5,00.
(2) The energy levy is payable to the supplier by the person to whom the product is supplied at the time of the supply.
(3) The supplier is liable to account for the energy levy to the Commissioner of CEPS at the time and place that the Commission shall determine.
(4) The energy fund shall constitute a part of the moneys of the Energy Fund established under the Energy Commission Act, 1997 (Act 541) and accordingly the Commissioner shall submit the energy levy to the Energy Commission.
Section 4 - Imposition Of Hydrocarbon Exploration Levy(1) There is imposed by this Act on every litre of the petroleum products specified in Schedule 1 other than Liquified Petroleum Gas (LPG), a hydrocarbon exploration levy of ₵10.00
(2) The hydrocarbon exploration levy is payable to the supplier by the person to whom the products is supplied at the time of the supply.
(3) The supplier is liable to account for the energy levy to the Commissioner of CEPS at the time and place that the Commission shall determine.
(4) The purpose of the hydrocarbon exploration levy is to provide money
(a) to promote exploration of hydrocarbon basins:
(b) to store geological data on hydrocarbon deposits in Ghana;
(c) to assist with human resource development in hydrocarbon exploration
(5) The hydrocarbon exploration levy shall be paid into the accounts that the Accountant-General shall direct.
Section 5 - Imposition Of Road Levy(1) There is imposed by this Act a road levy of the amounts specified in column 2 of Schedule 2 in respect of the petroleum products specified in relation to them in column 1.
(2) The road levy is payable to the supplier by the person to whom the product is supplied at the time of the supply.
(3) The supplier is liable to account for the payment of the road levy to the Commissioner of CEPS.
(4) The road levy shall constitute a part of the moneys of the Road Fund established under the Road Fund Act, 1997 (Act 536) and accordingly the Commissioner shall submit the road levy to the Road Fund Board.
Section 6 - Cross Subsidy Levy(1) There is imposed by this Act a cross subsidy levy of the amounts specified in column 2 of Schedule 3 in respect of petroleum products specified in relation to them in column 1.
(2) The cross subsidy levy is payable to the supplier by the person to whom the product is supplied at the time of the supply.
(3) The supplier is liable to account for the payment of the cross subsidy levy to the Commissioner of CEPS.
Section 7 - Social Impact Mitigating Levy(1) There is imposed by this Act a social impact mitigating levy of the amounts specified in column 2 of Schedule 4 in respect of petroleum products specified in relation to them in column 1.
(2) The social impact mitigating levy is payable to the supplier by the person to whom the product is supplied at the time of the supply.
(3) The supplier is liable to account for the payment of the social impact mitigating levy to the Commissioner of CEPS.
Section 8 - Application Of Customs, Excise And Preventive Service Law To This ActThe Customs, Excise and Preventive Service Law, 1993 (PNDCL.330) shall apply for the purposes of collection of the taxes and levies imposed by this Act.
Section 9 - Interpretation"CEPS" means Customs, Excise and Preventive Service;
"Commissioner" means Commissioner of CEPS;
"hydrocarbon exploration" means exploration in respect of liquified or gaseous substances composed principally of hydrocarbons that occur naturally in sub-soil, sea bed and includes natural gas, crude oil shales, oil sand substances commonly known in the petroleum industry as gas condensate and liquified petroleum gas;
"supplier" means a person who sells or otherwise disposes of the petroleum products specified in Schedule 1.
Section 10 - Repeal(1) The following enactments are repealed:
(a) The Customs and Excise (Petroleum Taxes and Petroleum Related Levies) Act, 1998 (Act 544);
(b) The Customs and Excise (Petroleum Taxes and Related Levies) (Amendment) Act 2001 (Act 593);
(c) The Customs and Excise (Petroleum Taxes and Petroleum Related Levies) Act, 2001 (Act 603);
(d) The Customs and Excise Petroleum Taxes and Petroleum Related Levies (Amendment) Act 2003 (Act 640)
(2) The following Executive Instruments are hereby revoked:
(a) Customs and Excise (Petroleum Taxes and Related Petroleum Related Levies) (Commencement) Instrument 2001 (E.I. 15);
(b) Customs and Excise (Petroleum Taxes and Petroleum Related Levies) Commencement) (No.2) Instrument, 2001 (E.I.19).
Section 11 - CommencementThis Act shall come into force on the 23rd day of February 2005.