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Ghana Union of Traders Association (GUTA) appeals to the Gov’t of Ghana to maintain the 50% benchmark policy

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The Government of Ghana would present the 2022 budget on 17th November 2021. The Ghana Union of Traders Association (GUTA) has appealed to the Government to maintain the 50% reduction on benchmark value policy at the ports.

A statement, signed and issued by Dr. Joseph Obeng, the President of GUTA, stated that, ‘the policy has helped enormously in saving businesses. It has also prevented smuggling as well as ensured compliance and this enabled the government to exceed its revenue targets over the years.’

GUTA expresses that the Government of Ghana must maintain the policy in the upcoming 2022 budget and economic policy statement.

The statement issued by the GUTA President also stated that, ‘Currently businesses are in serious distress and finding it difficult to operate, hence any attempt to reverse the policy will spell doom for businesses in the country, especially the trading community.’

However, GUTA made it clear that it has no objection to the Government increasing taxes placed on goods such as alcoholic drinks, cigarettes, and other harmful products to humans.