Deferred implementation of reversed benchmark values ends today
The Ghana Revenue Authority (GRA) will from today begin Thursday, January 6, 2022, to implement the postponed implementation of the reversal of the 50% benchmark values on vehicle imports and the selected 43 items as directed by the government.
The deferment of the implementation of the policy by the statutory body followed a press statement issued by the Importers and Exporters Association of Ghana (IEAG) and agitation from the members of the Ghana Institute of Freight Forwarders.
In the said statement, the Executive Secretary of the IEAG, Samson Awingobit, noted that due to the commencement of the implementation of the policy on Tuesday, January 4, 2022, some importers are unable to clear their cargoes from the port and are being asked to re-enter their various BoEs for new values to be charged on their cargoes.
Also, the Freight Forwarders who were unhappy over the situation threatened to sue the government over the reversal of the 50 percent benchmark values on imports if the Ghana Revenue Authority (GRA) does not stop the move.
Additionally, the Integrated Customs Management System (ICUMS) platform has been shut to importers and clearing agents who completed the process in 2021 and waiting to clear their goods from the port.
Read: Benchmark Values: Policy reversal to be detrimental on importers – IEAG
“The IEAG secretariat has made the following surprising observations at the various ports of entry on Tuesday 4th January 2022.
- That importers and clearing agencies whose Bill of Entry BOE were entered and duly accepted by the ICUMS in the last working days of 2021, have been denied access to clear their cargoes from the ports. Such importers and clearing agents are regrettably being asked to re-enter their various BOEs for new values to be charged on their cargos.
- That the ICUMS platform has been shut to all importers and clearing agents whose process have already been completed in the last year of 2021 and waiting to clear their cargoes from the ports”.
In a response to the observations made by the IEAG, the GRA has therefore deferred the implementation of the policy to Thursday, January 6, 2022, to allow importers clear their goods from the port.
The GRA in communicating the new decision noted the following;
• For any assessed BOE that was affected by the earlier directive of the 4th January 2022, a post entry will be required to reverse the effect of the policy on the calculated taxes.
• Effective Thursday, 6th January 2022, any declaration not yet entered (where duty and taxes have not yet been paid or security not deposited) will be affected by the policy. A post entry will be required to enable recalculation of the taxes based on the policy.
• Where BOE tax assessment is accepted, but tax bill has not been paid, a post entry is required to enable recalculation of the taxes based on the policy.
