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Business News of Friday, 17 May 2019


Upward revision of benchmark values false – GRA

The Ghana Revenue Authority has debunked rumours circulating on social media that benchmark values on imports have increased.

In a statement released to Ghanaweb and signed by the Commissioner General of GRA, Emmanuel Kofi Nti said prices of products still remain unchanged stating that reports making rounds indicating the upward revision of the benchmark should be disregarded as false.

The statement read “The Customs Division of the Ghana Revenue Authority wishes to inform the general public that the reports of upward revision of benchmark values are false and that benchmark prices remain unchanged”.

Vice President, Dr Mahamudu Bawumia addressing a Town Hall Meeting in Accra in April announced the slash of benchmark values for all imports by 50 percent except duties on vehicles which would be cut by 30 percent.

It was part of reform at the country’s ports aimed at reducing the incidence of smuggling at the ports, enhancing revenue mobilisation and making Ghana’s ports competitive.

The reduction was also in response to calls by importers on the government to reduce import duties.

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