GRA reverses 30% discount on imported goods effective January 1

The Ghana Revenue Authority (GRA) has announced the reversal of 30% discount on import values of general goods and 10% discount on Home Delivery Value of vehicles effective January 1, 2023.

The reversal according to GRA follows 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 will 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).

Government introduced discounts on imported goods in 2019 in a bid to help reduce the prices of imported products in the country.

In that year, the discount on general goods imported was 50% while the discount on imported vehicles was 30% to bring respite to citizens.

It was later reviewed several times following agitations by manufacturers and firms that produce goods locally.

READ THE STATEMENT BELOW

Source: citinewsroom