2022 budget: Don’t reverse 50% benchmark value – GUTA begs

Dr. Joseph Obeng

The Ghana Union of Traders Association (GUTA) is appealing to the government not to reverse the policy on the 50% reduction on the benchmark value in the 2022 National Budget statement.

The policy was introduced to cushion the importing community from high import duties as well as fees and charges at the ports.

“The policy has helped enormously in saving businesses. It has also helped to stop smuggling as well as ensuring compliance and this enabled the government to exceed its revenue targets over the years,” a statement from the President of GUTA, Dr Joseph Obeng, stated.

According to Dr Obeng, 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.

Meanwhile, the President of GUTA says his outfit has no objection to the increase in taxes by the government on non-essential goods such as alcoholic drinks, cigarettes and other related products that may be harmful to human health.

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