General News

Importers Have Barely 24-hours To Clear Goods Before Benchmark Values Are Scrapped

Importers have barely 24-hours to clear their goods at the port before the benchmark values are scrapped.

The government had announced the reversal of the reduction of values of imports which was expected to be implemented on Tuesday, January 4, 2022.

The development which would affect about 43 selected items was met with fierce opposition from some trade unions.

According to a statement from the Ghana Revenue Authority (GRA), the Customs Division will ensure this directive takes effect as announced.

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Otherwise known as the ‘benchmark values’, the reversal will affect the selected items from all the three categories on which the reversal was applied, a statement from the Authority said.

Agitated importers across the country have rejected this policy saying it was sprung on them with very little time to prepare.

However, the government has rescheduled the implementation for Thursday, January 6, 2022.

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Speaking on Joy FM’s Midday News, President of the Importers and Exporters Association, Samson Asaki Awingobit explained that “I’m sure that those who had their tax bill and could not make payment yesterday will be able to do that today.”

The items to be affected include the home delivery value of vehicles, goods on which benchmark values are applied, and all other goods.

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This means the Home Delivery Value of vehicles will no longer be discounted by 30%.

Also, the full value shall apply without any reduction for all other goods, where the importer has an invoice for which the value is higher or lower than the established Transaction Price Database.

 

 

 

 

 

 

 

Source: myjoyonline