Reversal of 50% benchmark starts today

The reversal of the 50 percent benchmark on value on imports starts today, Tuesday, January 4.

This will affect 143 items under three categories prescribed by the Ghana Revenue Authority.

The benchmark value, which is the amount taxable on imports, was reduced by 50 percent for some goods. The government had hoped that this was going scale up he volume of transactions of make Ghana’s ports competitive.

The government decided to reverse this decision after it met opposition from the Association of Ghana Industries and the Ghana Union of Traders Association (GUTA).