ABBOSEY OKAI SPARE PARTS DEALERS THREATEN TO INCREASE PRICES

SPARE PARTS DEALERS THREATEN TO INCREASE PRICES


The Abbosey Okai Spare Parts Dealers Association has threatened to increase the prices of their goods if government does not intervene in what they describe as increases benchmark value charges atthe ports.
According to the dealers, although government scrapped the one percent special import levy last year, they have been compelled to pay higher benchmarkvalues at the ports.This development, according to them hasleft them profitless.The threat follows jubilation after the Finance Minister announced during the 2017 Budget presentation in parliament that the one percent special import levy has been scrapped to bring some relief toAbossey Okai Spare Parts Dealers.The excitement, however, appears to have been short-lived as spare parts dealers seem to be facing other challenges with some charges billed them, especially the benchmark value charge.

According to the dealers, the one percentspecial import levy which was scrapped has brought no relief to them since the Ghana Revenue Authority (GRA) has introduced a new benchmark value system at the ports.The dealers tell Citi Business News thesecharges have increased the taxes they pay at the port for their products.“Because we do not have the destination inspection companies anymore the GRA is now doing the valuation. They have come out with a new benchmark to work out the valuation. What we notice is that the introduction of the new benchmark has increased the import duties that we are paying”, Public Relations Officer of the Abbosey Okai Spare Parts Dealers Association, Clement Boateng lamented.

He added that the abolishment of the one percent special import levy has yielded no result due to the introduction of the benchmark value system by the GRA.Mr. Boateng however insisted that the association has not yet sanctioned any increment in the prices of spare parts.“Since about three years ago we have notincreased the major parts. We have absolutely not increased the prices” he rehashed.On his part, the Financial Secretary of the Abbosey Okai Spare Parts Dealers Association, Nana Peprah cautioned that members will pass on any increase to vehicle owner if government does not intervene to stop the GRA.

“If the GRA does not do something about it then we will be compelled to increase the prices but as at now, we have not increased the prices. We are hoping they will do something about it at least within the first quarter of this year” he stated.He disclosed that the association will be meeting the Customs Division of the GRAnext week to discuss the issue with them.Meanwhile, the GPRTU is hinting of an increase in transport fares if the prices ofspare parts continue to increase.

Story by: Nana Korankye Apomuden


Source: Ghanaweb.com

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