Suspension Of Implementation Of Benchmark Value: Akufo-Addo's Government Does Not Think Before Talking

Following the government’s policy directive on the reversal of reductiion in benchmark value, the Gallant Cadres of the National Democratic Congress (NDC) has described the decision by the government as "lack of common sense" in a press release dated Thursday, January 6, 2022.

According to Cadres, "the government had hoped that this was going to scale up his volume of transactions to make Ghana’s ports competitive."

The Gallant Cadres of NDC emphasized that the government decided to reverse the decision following several consultations from the Association of Ghana Industries and Ghana Union of Traders Association (GUTA).

Read the full statement below:

Press Release 

To All Media Houses 

The Gallant Cadres of NDC

0505446753 

0241906363 

Suspension Of Implementation Of Benchmark Value: Akufo-Addo's Government Does Not Think Before Talking

The decision of Nana Akufo-Addo to once again suspend a policy means that his government officials fail to think properly before taking any decisions. The Gallant Cadres of NDC see this character of NPP as a party that lacks common sense.    Government through the Ghana Revenue Authority (GRA) has deferred the implementation of the government’s policy directive on reversal of reductiion in benchmark value to January 6, 2022 to allow those who got their duty bill before the directives to pay and cleared their cargoes.

According to a message sent to various agencies, the GRA said the implementation of the government’s directive on reversal of reduction of values of import on selected items which was set to take effect from Tuesday January 4, 2022 has been deferred to January 6, 2022.

“(1) for any assesed BOE that was affected by the earlier directive of January 4, 2022, a post entry will be required to reverse the effect of the policy on the calculated tax.”

“(2) effective Thursday, any declaration not yet entered (where duty and taxes have not yet been paid or security not deposited) will be affected by the policy. A post entry will be required to enable recalculation of taxes based on the policy.

(3) where BOE tax assessment is accepted but tax has not been paid, a post entry is required to enable recalculation of taxes based on the policy,” excerpts of the message said.

The benchmark value, which is the amount taxable on imports, was reduced by 50 percent for some goods. The government had hoped that this was going to scale up his volume of transactions to make Ghana’s ports competitive.

The government decided to reverse this decision after it met opposition from Association of Ghana Industries and the Ghana Union of Traders Association (GUTA).

Comrade Richard E A Sarpong, Father Casford.

The PRO and Convener 0241906363