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Business News of Saturday, 26 February 2022


It’s reasonable to demand 1% tax from importers enjoying 40% benchmark value reduction – Baffoe

Tema Port [File Photo] play videoTema Port [File Photo]

The Bono Regional Chairman of the New Patriotic Party (NPP), Kwame Baffoe, also known as Abronye DC has said that he does not see anything wrong with government’s intention to demand 1% tax from traders who will soon enjoy 40% reduction in benchmark values at the port.

“Government has given us 40% tax reduction at the port and out of that he is demanding just 1% of that 40% as tax and that is fair and smacks of a good government. A government that thinks about the welfare of the citizenry…,” he added.

To him, the reduction in the benchmark values should be enough basis for Ghanaians to advocate the passage of the E-Levy Bill.

He further appealed to importers and traders to reduce the prices of general goods in the country once the reduction in benchmark values takes effect.

Speaking on Angel FM’s Anɔpa Bɔfoɔ, Abronye DC hinted that the government is intending to reduce the benchmark value from 50% to 20% so that the traders who deal in general goods can also heave a sigh of relieve.

Government after months of agitation and weeks of consultations with stakeholders in the trading community on the benchmark values reduction policy, finally concluded on a 30 percent discount for all goods and 10 percent for vehicles.

According to the government, this change, which will take effect from March 1, 2022, allows for a win-win situation for all parties involved.

Initially, a discount of 50% was applied on the benchmark values of selected goods, while a 30 percent discount was applied on vehicles.

This reduction, Abronye DC told Kofi Adoma Nwanwani ought to reflect in the prices the goods are sold to the final consumer.

“I am on my kneels appealing to the importers of general goods to also reduce the prices of goods to reflect in the pockets of the ordinary consumer…if government has sought it wise to reduce the prices, it is only fair that it reflects in the pockets of the people the reduction is intended for…,” he appealed.

The NPP Regional Chair further appealed to Ghanaians to impress upon traders to reduce the prices of goods once the 30% reductions takes effect.

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