PORTS

Tax analyst, Geoffrey Ocansey is projecting that government could generate about GH¢9 billion with the implementation of the withdrawal of the discount values at the ports. He explains that the amount was lost at the ports annually due to the application for a markdown of benchmark value and other customs rulings. The Ghana Revenue Authority announced the complete reversal of the benchmark policy effective 1st January 2023. The policy which was implemented in 2019 saw a 50% reduction in the benchmark value of some 43 imported items and 30% on cars. In an interview with Citi Business News, Geoffrey Ocansey opined…