Adu Boahen: Government to take final decision on benchmark values end of January

The Ghana Revenue Authority (GRA) has suspended the reversal benchmark value to enable further engagements with all the relevant stakeholders

Charles Adu Boahen, Minister of State at the Ministry for Finance has revealed that the government before the end of January will make final a decision regarding the benchmark values.

According to him, engagement with stakeholders is ongoing to achieve a favourable outcome that will satisfy all parties involved.  

Speaking at an investiture dinner to swear in a new president of the Association of Ghana Industries (AGI), Boahen said “undoubtedly, the reversal of benchmark values is of particular concern to AGI and the wider business community. I think every speech that I have heard so far has referenced that, so I know it’s something that is of major concern to your members.

…ladies and gentlemen, I’m happy to let you know that there are continued engagements, with stakeholders ongoing, please do not give up, let’s persevere and I’m sure we’ll find ourselves with some good news before the end of the month (January) with regards to the benchmark values,” he stated.

President Nana Addo Dankwa Akufo-Addo directed the Customs Division of the Ghana Revenue Authority (GRA) to suspend its planned implementation of the government’s policy directive on the reversal of the reduction of values of imports on selected items.

The president asked for the policy to be delayed to allow for wider consultations. It is also in order that the complaints of traders opposed to the reversal be “sufficiently considered before a decision on implementation and its timing is finally taken.”

On (13 January), the Ghana Revenue Authority (GRA) said it has suspended the implementation of the reversal of the benchmark values indefinitely.

According to the GRA, the move is to enable further engagements with all the relevant stakeholders on the way forward.

Nicholas Brown

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