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10.01.2022 Business & Finance

Timeframe for further consultations on reversal of benchmark values inadequate – Importers and exporters

Timeframe for further consultations on reversal of benchmark values inadequate – Importers and exporters
10.01.2022 LISTEN

The Importers and Exporters Association of Ghana says the suspension of the reversal of the benchmark values by President Nana Akufo-Addo is clear indication that the policy was rushed.

At a meeting with officials of the Ghana Revenue Authority (GRA) and other stakeholders, President Nana Akufo-Addo directed GRA to suspend the planned implementation of the reversal of the benchmark val ues for further consultations.

The President also gave a deadline of January 17 for all consultations to conclude.

However, in an interview with Citi News , Executive Secretary of the Importers and Exporters Association of Ghana, Sampson Asaki Awin gobit, said the deadline given is not enough for wider consultations to be done.

“I am looking forward to hearing the President actually suspending the programme and allowing for wider consultations.”

“The January 17 deadline is too short a time for this to be done.”

The Ghana Revenue Authority (GRA), has for the second time deferred the implementation of the reversal of reduction of values of imports (known as Benchmark Values) on selected items, to Monday 17th January, 2022.

The Authority explained that the transitional arrangements are to ensure a smooth implementation.

It is also to allow a storage-free period for vessels that discharged on 31st December 2021 to go through clearance without being affected by the reversal of the policy.

—citinewsroom

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