Remain focused on industrialization and transformation agenda, AGI to government
Reversal of benchmark value policy regressive to the manufacturing space
As part of government’s efforts to promote local production, discounts on benchmark values for some selected items were scrapped in the 2022 budget presented by the Finance Minister, Ken Ofori-Atta in November 2021.
The reversal affected some 143 items under three categories prescribed by the Ghana Revenue Authority.
The Ghana Revenue Authority (GRA) has been asked to indefinitely suspend the reversal of benchmark value policy importers enjoy at various ports.
This directive comes after government had a stakeholder meeting with some members of the business community - Ghana Union of Traders Association, Importers and Exporters Association of Ghana, customs division of GRA among others.
According to a Citinewsroom report sighted by GhanaWeb, it said, “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.”
Meanwhile, President of the Association of Ghana Industries (AGI), Dr. Humphrey Kwesi Ayim-Darke on Monday described the directive as regressive.
According to him, it goes contrary to government's transformation and industrialization agenda.
Ayim-Darke, therefore, entreated government to remain focused on its industrialization and transformation agenda to propel economic growth, as well as create jobs for the teeming youth in the country. Read Full Story
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