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The Ghanaian Traders Association (GUTA) dismissed concerns that the recently announced reduction in the import duty baseline is insignificant.
Joseph Obeng, president of GUTA, said the import rights reform introduced Wednesday by the government is consistent with the demands that they have presented to Customs countless times during the negotiations.
"This measure of mitigation by the government may be considered negligible by someone, but it is very essential," Dr. Obeng told PM Express, a channel news program. Joy News channel on MultiTV.
The new import tariff reform will begin on Thursday, April 4.
Vice President Dr. Mahamudu Bawumia, who revealed this information at the plenary session of Wednesday's Economic Management Team (EMT), said that the reference value of import duties would be halved, while importers of vehicles would benefit by 30%.
The Ghana Association of Industries (AGI) warned importers against any excitement about the new reforms, as the reduction of reference fees does not mean a reduction in tariffs.
Seth Twum Akwaboah, Managing Director of AGI, told Joy News Wednesday as the reference values make not 'add a lot' because they to become inapplicable if importers declare the correct values.
He admits, however, that a total reduction in the billing value of import rates would have catastrophic effects on Ghanaian industries, which would have opened the door to imports.
The increase in imports was attributed to the depreciation of the local currency.
Minority concerns
Cbadiel Ato Forson, spokesperson for the National Democratic Minority Congress (NDC) for Finance, also said PM Express Wednesday night that the reform will not give the necessary relief that GUTA and other importers have been demanding.
Related: Ato Forson has doubts up to 50% on import duties
"No. Unfortunately, the World Trade Organization and our laws – the Customs Act – oppose the reference value.This is something that is prohibited by the world Trade Organization, the world Customs Organization and Ghana Laws.
"According to the laws of this country, the Customs Law, Customs can only apply import duties, as approved by Parliament on billing values. Reference values are used only for risk management purposes and can not be used for import rights purposes, "said the former Deputy Minister of Finance.
GUTA defends
According to Dr. Obeng, reference values have been in use for many years – even under the NDC administration under which Mr. Forson served – so it is possible for him to claim that it suddenly breaks the law and the protocols. International. was disingenuous.
"If your belongings have been raised before, if something that you were supposed to pay $ 20,000 but after applying the benchmark, you will pay $ 80,000, then you will see how important that is, "he said.
How the reduction of the reference value works
Mr. Ato Forson explained that the reference value is a defined value that Customs badigns to a specific product and that it will use for the calculation of import duties when the invoice value of the product is deemed too high. low.
"For example, if you bring a power cable and the value of the bill is [GHS]4 and the customs reference value – which is the published customs value – is [GHS]6. you [importer] stay in [GHS]4 and they say [GHS]6. There is therefore a difference of [GHS]2
"What the Vice President says is that [GHS]2 will be reduced by 50% [and 30% if it is a vehicle]. If they must reduce the totality [GHS]6 of 50% so that means they reduce it below the value of your bill which is [GHS]3, instead of [GHS]4, he says.
Get more discussion about PM Express in the video below
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