Asaki Samson Awingobit, Executive Secretary of Importers and Exporters Association of Ghana, says the Benchmark Value reversal ‘pressure’ will not work.
Government suspended the benchmark review reversal until Thursday, January 6, 2022.
Per the directive, the full value shall apply without any reduction for all other goods, where the importer has an invoice for which the value is higher or lower than the established Transaction Price Database.
The Importers and Exporters Association of Ghana, the Ghana Union of Traders Association (GUTA), and the Vehicle and Asserts union of Ghana have spoken against the policy directive and called on the administration to reverse the decision.
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Speaking to the issue on Atinka FM’s AM Drive, Asaki Samson Awingobit, noted that until stakeholders are engaged to see the way forward, the pressure for the reversal of the Benchmark value will not work.
According to him, the outbreak of the Covid-19 has affected businesses and that the timing for the implementation of the directive on the reversal of the reduction on the benchmark values was not the best.
“The directive is unfortunate, and the government knows that the year has not been good coupled with the Covid-19 and other factors. Despite these challenges, the government in 2020, introduced new taxes even in the face of Covid-19. All these are burdens, but we never complained. This is not the way to go. We are asking the government to hold on. There was no stakeholder consultation before the decision was taken. What government should understand is that until stakeholders are engaged to see the way forward the pressure for the reversal of the Benchmark value will not work,” he added.
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