• About Us
  • Contact Us
  • Photo Gallery
  • Privacy Policy
  • Terms of Use
  • Citi TV
Monday, March 27, 2023
Citinewsroom - Comprehensive News in Ghana
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos
No Result
View All Result
Citinewsroom - Comprehensive News in Ghana
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos
No Result
View All Result
Citinewsroom - Comprehensive News in Ghana
No Result
View All Result

A/Region: Importers oppose reversal of benchmark value reduction implementation

Ernest ArhinfulbyErnest Arhinful
January 4, 2022
Reading Time: 1 min read
ShareShareShareShare

The government is expected to implement the much-talked-about reversal of the 50 percent benchmark value on imports today, Tuesday, January 4, 2021.

This was announced by the Ghana Revenue Authority, GRA, in a press statement issued on Sunday, January 2, 2021.

However, some importers in the Ashanti Region are still opposed to the policy. They say the policy will adversely affect their operations.

“The system is very hard so if they are going to remove that subsidy, then it means we are going to pay more and that portion would have to be added to the cost of the goods which is going to make it very expensive for us,” one of the importers said in a Citi News interview.

“We (importers) face a lot of problems at the ports because now the dollar is up, and the duty is also up. So we want the government to scrap that policy because there are a lot of nuisance taxes on our bills. More than 15 taxes, and if it is not looked at, many of us will be forced to stop importing,” another importer also said.

About the policy

The government introduced the benchmark policy in 2019 in accordance with the World Customs Organization’s policy of regular review of valuation database.

Under this policy, certain commodities are benchmarked to the prevailing world prices as a risk management tool, to reflect the true market dynamics of these commodities.

It also takes into consideration factors such as protection of health, the environment, and security, as well as protection of local industries.

In line with the reversal, relevant stakeholders were consulted with the aim of reaching a consensus on the implementation of the policy.

ShareTweetSendSend
Previous Post

Anaesthetists blame Health Ministry for continued impasse over title change

Next Post

Ghana’s education system must produce creators, not consumers – Asantehene

Related Posts

Top Stories

GRA defers implementation of revised benchmark values policy again to Jan. 17

January 7, 2022
News

Reversal of benchmark value reduction to take effect today

January 4, 2022
Top Stories

50% benchmark value on imports still in force – GRA

May 16, 2020
Business

Takoradi: Freight forwarders, importers picket to demand suspension of UNIPASS

May 7, 2020
Slider

Agric Ministry in talks with top rice importers to prioritize local brands

November 21, 2019
Business

Council of State, Nana Addo meet over high import taxes

March 5, 2019
Next Post
Otumfuo Osei Tutu II

Ghana's education system must produce creators, not consumers - Asantehene

TOP STORIES

Include teacher unions in policy formulation – NAGRAT to govt

March 27, 2023

China pledges support for Ghana’s debt treatment

March 27, 2023

Apaak ‘prays’ against NDC MPs who voted for Akufo-Addo’s ministers

March 27, 2023
Load More
ADVERTISEMENT
Citinewsroom – Comprehensive News in Ghana

CitiNewsroom.com is Ghana's leading news website that delivers high quality innovative, alternative news that challenges the status quo.

Archives

Download App

Download

Download

  • About Us
  • Contact Us
  • Photo Gallery
  • Privacy Policy
  • Terms of Use
  • Citi TV

© 2021 All Rights Reserved Citi Newsroom.

No Result
View All Result
  • Home
  • News
  • Business
  • Sports
  • Showbiz
  • Coronavirus
  • Infographics
  • Livestream
  • Videos

© 2021 All Rights Reserved Citi Newsroom.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT