The Ghana Revenue Authority (GRA) is the revenue arm of government
Removal of 50% Benchmark Value policy on 32 items takes effect today
• GRA is seeking to rake in more revenue at the ports
• GUTA has been calling for the policy to be maintained
• 32 categories of items will no longer be granted special dispensation
The Ghana Revenue Authority will from Monday, November 15, 2021, implement the removal of the 50 percent Benchmark Value covering 32 categories of items at the country’s ports.
This means that all 32 categories which are presently enjoying discounts on port clearing, will no longer be granted the special dispensation.
According to a letter signed by the GRA Commissioner, Ammishaddai Owusu-Amoah and forwarded to the Minister of Finance, Ken Ofori-Atta, the removal of the benchmark values comes following an agreement reached by the business community to allow the revenue arm of government to rake in more revenue.
Some of the 32 items which will be affected by the removal include vehicles, roofing sheets, ceramic tiles, aluminium products, toilet papers, towels, Portland cement, mosquito coil, palm oil.
The others are cartons, sugars, noodles, facial tissue, chocolates, clinker and fruit juices among others.
Meanwhile, the latest development will not be welcomed by the Ghana Union Traders Association as they have been calling for the 50% benchmark value policy to be maintained.
President of the Association in an earlier statement described any decision to remove the policy at the country’s ports ‘will be suicidal’ on the business community.
“Any attempt to remove this good policy of the government that brought relief will be suicidal for the state because it will not only collapse business but also cause an unbearable rise in prices of goods and services beyond the reach of consumers, especially, low-income earners and the unemployed,” he cautioned.
See a copy of the letter below:
