Halt the Reversal of Discounts on Benchmark – Akufo-Addo to GRA

Halt the Reversal of Discounts on Benchmark – Akufo-Addo to GRA

www.athleticshour.com | President Akufo-Addo | Ghana Revenue Authority’s Customs Division | Benchmark | GRA | Ghana

President Akufo-Addo has asked the Ghana Revenue Authority’s Customs Division to halt the execution of the reversal of benchmark value discounts. For broader consultations, Akufo-Addo asks GRA to halt the reversal of discounts on benchmark prices. Halt the Reversal of Discounts on Benchmark – Akufo-Addo to GRA.

The President’s mandate, according to Asaase Radio in Accra, is to make greater room for broader stakeholder consultations on the matter. The judgment also allows traders’ concerns to be properly aired before a final decision is made on the topic.

According to Asaase Radio, the consultations have started in earnest, with a consensus expected by January 17, 2021.

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The Ghana Revenue Authority (GRA) issued a directive on January 2, 2022, stating that the Customs Division of the Ghana Revenue Authority will commence the effective execution of the reversal of discounts on certain categories of goods on January 4, 2022.

Following this development, a large number of people who were affected by the program denounced it and demanded that the government reverse its decision. The opposition National Democratic Congress held a news conference in this respect, with Sammy Gyamfi, the party’s National Communication Officer, speaking and urging the GRA to overturn its decision.

“Any policy that seeks to increase import duties and ultimately the prices of goods, will lead to more hardships in the country. The sensible thing for the government to do under the circumstances if they are genuinely minded to support AGI and boost local production is to reduce the cost of doing business and the factors of production by stabilizing the Ghana cedi, reducing the tax burden on businesses, and by ensuring that businesses have access to cheaper credit, low utility tariffs, and subsidized inputs. This is the surest and sustainable way of boosting local production without necessarily increasing the level of hardships in the country.

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In conclusion, we wish to make the point, that Ghanaians have had enough of the deception and callousness of the Akufo-Addo/Bawumia/NPP government.

The NDC holds the view, that this is not the time for more taxes and draconian revenue measures such as the reversal of benchmark value discounts. We share in the view expoused by GUTA that the GRA withdraws the statement announcing this measure which will only go a long way to stifle the already burdened businesses in the country”, Mr. Sammy Gyamfi said.

According to Asaase Radio, the government has instructed its reversal in response to stakeholder dissatisfaction with the strategy. The concerns of merchants will be “sufficiently weighed before a decision on implementation and its timetable is finally adopted.”

Source: Paa Kwesi Schandorf

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  1. Ibrahim, I’m proud of you. I pray you reach where ever you want to 🙏🏽🤲🏽📿 I hope to see you…

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