WE WILL NOT ACCEPT THE REVERSE OF THE 50% BENCHMARK VALUE POLICY..GUTA TO GOVERNMENT

The Ghana Union of Traders Association (GUTA) today at a press conference has called on the Ghana Revenue Authority to do away with the idea of reversing the 50% benchmark value policy.

Addressing the media at their office here in Accra, president of the Association,Mr Joseph Obeng stated that the benchmark value was a mitigation factor during the COVID-19 pandemic in 2020 and beyond where global commodities prices have gone up astronomically.

This to him it has come to the notice of the association that Ghana Revenue Authority has issued statement informing the public that the 50% benchmark value reduction policy has been reversed; effective today, Monday 15th November 2021.

Mr Joseph Obeng called on members of the trading community, especially importers,to calm down,and not pay any additional amount on duty for clearance.

President of Automobile Dealers Union of Ghana(ADUG)MR ERIC BOABENG has stated that goods and commodities will skyrocket high if the benchmark value is reversed.

He pleaded with government to call GRA to order to maintain the 50% benchmark as was been told by the Economic Management Team(EMT) that there will be a thorough stakeholders consultation before any decision is taken on the policy.

Mr Boateng called on government as matter of urgency to call for the immediate withdrawal of the statement issued by GRA on the review of 50% and 30% reduction of the benchmark value policy and not even consider bringing it into the forthcoming budget statement.

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