Cost of doing business at the ports will be impacted
• GRA reverses 50% Benchmark Value policy on 32 categories of items
• Cost of doing business at the ports will be impacted
• GUTA has in past months called for the policy to be maintained
Beginning Monday, November 15, 2021, the Ghana Revenue Authority has commenced the removal of the 50 percent Benchmark Value covering 32 categories of items at the country’s ports.
The move by the revenue arm of government will mean that 32 categories that are presently enjoying discounts on port clearing, will no longer be granted the special dispensation.
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.
Months before the November 15 implementation for the reversal 50% benchmark value policy, the Ghana Union Traders Association have been calling to 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 list of the items:
