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HomeCurrent AffairsBenchmark Value Discounts: Gov’t indefinitely suspends reversal

Benchmark Value Discounts: Gov’t indefinitely suspends reversal

Benchmark Value Discounts: Gov’t indefinitely suspends reversal

Government has directed the Ghana Revenue Authority (GRA) to suspend the implementation of the reversal of the benchmark value discounts until further notice.

A statement from GRA on January 13, 2022, said the indefinite suspension is to allow for further engagements with all relevant stakeholders.

“Following the outcome of a meeting held on Wednesday 12th January 2022, the Customs Division of GRA has been directed to suspend the implementation of the government’s policy directive on the removal or reduction of values of imports on selected items until further notice to enable more engagements with all the relevant stakeholders.”

President Akufo-Addo on January 8, 2022, ordered the suspension of the implementation for further consultations which should have been concluded on January 17, 2022.

Since the announcement of the reversal, entities like GUTA, IEAG have been up in arms over its “retrogressive” effects if implemented.

 

marief@mx24gh.com

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