The Ghana Union of Traders Associations (GUTA) is calling on policymakers to review the Benchmark Value System.
GUTA argues that the system contradicts the World Trade Organization’s valuation system.
This follows reports by GUTA that the Ghana Revenue Authority (GRA) plans to increase the benchmark values at the ports, which they describe as an “abuse of their discretion” and “totally unacceptable”.
In a statement issued on Monday, October 24, GUTA said it had got wind of GRA’s intention to increase the benchmark values in the face of the current economic crisis.
President of GUTA, Dr Joseph Obeng, believes such a move is counterproductive as it will further worsen the economic situation in the country.
“If you say you are going to increase the benchmark value again, then it means you are revisiting the problem, and it will not auger well for the peace of the business. Let’s all find a proper solution to this benchmark thing because WTO frowns on that, and the transactional value is the way to go.”
GUTA released a statement calling on authorities to “stop the GRA from the abuse of their discretion in determining duties at the ports”.