03
Nov
The Ghana Revenue Authority (GRA) has explained that customs valuation primarily relies on the first (1st) out of the six (6) methods of valuation provided under the WTO valuation methods, which is the Transactional value. A statement issued by GRA, said, “Goods are benchmarked to the prevailing world prices as a risk management tool, to reflect the true market dynamics of those commodities”. Below is a statement from GRA: The Ghana Revenue Authority (GRA) wishes to clarify issues surrounding the application of benchmark values in determining Customs values for duty purposes. Customs valuation is based on the General Agreement on…