Tag: Benchmark reversal policy
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‘Downward review of benchmark discount value doesn’t address our concerns’ – AGI
The Association of Ghana Industries (AGI), says it is dissatisfied with the government’s decision to review the benchmark discount value while consultations are still ongoing. After months of agitation and weeks of consultations with stakeholders in the trading community on the benchmark values reduction policy, the government has finally concluded on a 30 percent discount…
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Senyo Hosi urges gov’t to prioritize reversal of benchmark discounts on rice
CEO of HGL, a multi-grain processing facility, Senyo Hosi says the government needs to prioritize the reversal of the benchmark value reduction policy on rice even as it continues to engage stakeholders on the way forward. He argues that such a move is necessary in order not to derail all the gains that have been…
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Prices of goods won’t increase by 50% if benchmark discounts are reversed – AGI
The Association of Ghana Industries (AGI) has debunked claims and threats of a 50% hike in the prices of goods on the markets if the government goes ahead with the implementation of the reversal of discounts on benchmark values at the ports. The remarks follow consistent claims by the Ghana Union of Traders Association and…
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Don’t backtrack on reversal of benchmark value discounts – AGI urges gov’t
The Association of Ghana Industries (AGI) is urging the government not to relent in its goal of implementing the reversal of the reduction in benchmark values policy introduced in 2019. The remark follows President Nana Akufo-Addo’s directive to the Ghana Revenue Authority (GRA) to suspend the planned implementation of the policy reversal, for further consultations.…
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Implementation of revised benchmark values policy deferred again to Jan. 17
The Ghana Revenue Authority (GRA), has for the second time deferred the implementation of the reversal of reduction of values of imports (known as Benchmark Values) on selected items, to Monday 17, January 2022. The authority explains that the transitional arrangements are to ensure a smooth implementation. It is also to allow a storage free…
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Vehicle importers urge government to prioritize scrapping nuisance taxes affecting them
The Automobile Dealers Union of Ghana, Importers of vehicles into the country say a recent engagement between the Finance Ministry and stakeholders within the trading space on the issues surrounding the reversal of the reduction in benchmark values policy, will not amount to much. The said meeting which was held on Thursday, January 6, 2022,…
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Benchmark policy reversal implementation issues to cause rift between agents and importers – IEAG
The Importers and Exporters Association of Ghana is warning of a rift between freight forwarders and their clients if the challenges with the implementation of the reversal of the reduction in benchmark values policy as witnessed yesterday continue. The government’s reversal of the 50% discount in the benchmark values of some imported goods and 30%…