The Ghana Revenue Authority (GRA) says it is yet to receive policy approval for the reversal of the 50% benchmark values on some selected commodities.
Earlier, in a letter forwarded to the Finance Minister Ken Ofori Atta, signed by the commissioner-general, Rev. Ammishaddai Owusu-Amoah, the GRA indicated that “it has been agreed that discount on some commodities currently being enjoyed should be reversed to achieve revenue effect. To this end, 15 November 2021, is, therefore, slated for the effective date for the implementation of the removal of the benchmark values on some selected items,” the statement noted.
“Yet to be approved”
But another letter signed by Florence Asante, assistant commissioner in charge of communication and public affairs, stated that the policy if accepted will be communicated in the 2022 Budget statement slated for Wednesday 17 November 2021.
“We wish to state that this document has not received policy approval for implementation. Such policy approval, when obtained will be communicated during the 2022 Budget Statement presentation scheduled for 17 November 2021,” the statement noted.
The Association of Ghana Industries has been kicking against the 50% benchmark values on some imported goods since its introduction by the government in 2019, stating that the policy is collapsing local industries.
However, the Ghana Union of Traders Association (GUTA), said there will be an increase in the price of general goods and services, should the policy be abolished.
All items under the 32 categories include sugar, noodles, palm oil, roofing sheets, toilet paper, facial tissue and towel, chocolates, Portland cement, clinker and mosquito coil.
Other items also include vehicles, ceramic tiles, aluminium products, cartons, textiles, fruit juices, among others.
Nicholas Brown
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