Tag: benchmark value policy
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Rice millers kick against new benchmark values policy
The Rice Millers Association of Ghana, has described governments new directive to adjust the benchmark value policy to 30 percent discount for all goods and 10 percent for vehicles as a political move which goes against the country’s industrialization agenda. They argue the move will ultimately collapse the local rice industry. The association had long…
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Wilmar Africa Ltd. shuts down oil plant over operational challenges
A leading fast-moving consumer goods manufacturer in Africa, Wilmar Africa Limited, has announced the temporary shutdown of its oil-producing plant due to some operational challenges. According to the company, the situation can be attributed to a number of factors including the suspension of the implementation of the reversal of discounts on benchmark values by the…
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GUTA welcomes ‘temporary’ suspension of reversal of benchmark value discounts
The Ghana Union of Traders Association (GUTA) has welcomed the announcement by the government for the Ghana Revenue Authority (GRA) to suspend the implementation of the benchmark value discounts. President Akufo-Addo on Saturday directed the GRA to stay the rollout of the policy until January 17, 2022, to allow for broader stakeholder engagement. As part…
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Importers call for a 2-week deferment of implementation of revised benchmark policy
The Importers and Exporters Association of Ghana is calling for a minimum of a 14-day deferment of the implementation of the reversal of the reduction in benchmark values policy, by the Ghana Revenue Authority (GRA). According to the GRA, implementation of the revised policy will now start on Thursday, the 6th of January, 2022, to…
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Benchmark value: Give concessions to imported raw materials not items produced in Ghana – AGI
As the implementation of the reversal of discounts on Benchmark values Policy begins, the Association of Ghana Industries (AGI) is calling for a stay of execution on the reversal on raw materials which cannot be sourced locally. The government announced the decision to scrap discounts on benchmark values in the 2022 budget as part of…