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Government has been urged to broaden discussions on its planned implementation of the reversal of benchmark discounts.
David Ofosu-Dorte, Senior Partner at AB and David Africa, believes such consultations will help address the varied concerns raised by industry players over the move.
Following agitations from stakeholders in importation, President Nana Akufo-Addo directed the Ghana Revenue Authority (GRA) to put on hold the implementation of the reversal of the benchmark values for further consultations, which he said should be concluded by January 17, 2022.
In addition, Mr. Ofosu Dorte wants the government to provide a clear time frame, for such talks to be concluded.
“I have realized that it is difficult for the government to make a decision. It is a massive issue and what I recommend to the President is the need for broader consultations and a definite timeline for this issue to be resolved because either way, it affects industrialization or the cost of goods that people buy. One of the things that the government needs to do is coordinate it with other things for the total impact”, Mr. Ofosu-Dorte told Bernard Avle on the Point of View on Citi TV.
Already, the Importers and Exporters Association of Ghana has said the suspension of the reversal of the benchmark values by the President is a clear indication the policy was rushed.
Executive Secretary of the Importers and Exporters Association of Ghana, Sampson Asaki Awingobit, told Citi News, the deadline given is not enough for wider consultations to be done.
“I am looking forward to hearing the President actually suspending the programme and allowing for wider consultations.”
“The January 17 deadline is too short a time for this to be done.”