GRA Set To Conclude Benchmark Discount Reversal On Goods & Vehicles

The benchmark discount policy on goods and automobiles will be totally reversed starting on January 1, 2023, according to the Ghana Revenue Authority (GRA).

The GRA informed its command centers to begin implementing the complete reversal of the discount on the Free-on-Board (FOB) value of general goods and Home Delivery Value (HDV) on vehicles starting on January 1st in a statement dated December 22, 2022 and signed by Ag Commission, Iddrisu Iddisa Seidu.

This indicates that beginning in 2023, importers will no longer receive a 10% discount on automobiles and a 30% discount on all other items.

The order’s title read: Complete reversal of the discount on FOB value of general items and HDV of automobiles effective January 1, 2023.

The accompanying Commission-Order General’s (CGO) is hereby released for implementation, effective 1 January 2023, according to the notice, which made reference to the budget and economic policy of the government of Ghana for the year ending 31 December 2023, dated 24 November 2022.

It iterated as follows:

“All sector commanders are to ensure that copies are made available to their officers and other stakeholders.

Officers are advised to take note of the content of the order and apply the provisions, accordingly”.

“Any difficulties encountered in the application of the directives should be communicated to the Commissioner for clarification.”

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Conclusion

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