The Ghana Union of Traders wishes the Ghana Revenue Authority’s (GRA) announced reversal of the 30% discount on import values of general goods would apply only to goods manufactured in Ghana.
President Dr. Joseph Obeng stated that GUTA wished the government would choose specific Ghanaian products to discourage traders from importing them into the country.
He claimed that the wholesale approach to all imported goods would affect pricing beginning January 1, 2023.
According to the GRA, the reversal results from the government’s 2023 budget statement and economic policy.
In a statement issued by the GRA, it said, “following the budget statement and economic policy of the government of Ghana for the year ending 31st December 2023, dated 24th November 2022, the Ghana Revenue Authority (GRA) wishes to inform the trading public of the complete reversal of the 30% discount on import values of general goods and 10% discount on home delivery value (HDV) of used vehicles effective 1st January 2023.
The statement stressed that valuation of all goods would continue to be done in line with World Trade Organisation (WTO) valuation agreement.
“Valuation of all goods will continue to be done in line with the World Trade Organization (WTO) valuation agreement, WCO Customs valuation compendium, and the Customs Act 2015 (Act 891) section 60 (used motor vehicles) and section 67 (general goods).
Dr. Obeng responded by noting that the 2.5 percent increase in Value Added Tax has already taken effect, and that this reversal will have an impact on pricing.
He warned Ghanaians to expect to pay more for their purchases.
He told Nyankonton Mu on Rainbow Radio 87.5Fm that this would burden the Ghanaian people.
According to what we’ve been told, AGI wants to push their made-in-Ghana products and sell them at a lower price in order to reduce imports of goods that Ghana can produce.
We would have preferred that goods not imported in Ghana not be added to the list of goods that have seen the discount reversed. Doing business would become more expensive. We would make our calculations, and whatever the cost was, it would have an effect on prices.