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The Ghanaian Merchants Association (GUTA) congratulated the government for successfully implementing the reduction of the reference values for imported products in the country, which has had a positive impact on the country's businesses.
On April 4, 2019, the government announced a reduction of 50% of the reference value of imported goods and 30% of the calculated value of vehicles in the ports of the country.
In a press release signed and published by the Secretary General of the Association, Alpha Shaban, GUTA is of the opinion that the prices of imported products have dropped from 10% to 15% for consumers since the implementation of the policy. .
According to the statement, "this reduction could have been more important, but for other factors, such as the balance between the price of new goods and that of the old stock".
Three months later, according to statements, GUTA and the Ghana Revenue Authority (GRA) have worked successfully on most of the modalities for different product lines, with a few remaining.
They admit that these few categories of goods had not at all seen this reduction, because the terms of their value had not yet been completed.
The GUTA, however, tells its members that "we stick to this statement, calling on all importers to share the benefits of the reduction with the consumer".
Source: ISD (Rex Mainoo Yeboah)
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