Benchmark Reversal: You cannot spring this surprise on us – Freight forwarders to govt

Freight forwarders want reversal on benchmark discount done in March 2022

Notice for reversal too short for importers to clear old goods – Freight forwarders

Govt losing revenue due to reversal on benchmark discount – Johny Mantey

The Ghana Institute of Freight Forwarders (GhIFF) has asked government to commence the reversal of the discount on the value on imported items covered by the benchmark values in March 2022.

In an interview with TV3 the Chairman of GIFF, Johny Mantey said the extension given to allow agents and importers with old stock clear them would not be enough.

”You don’t spring this surprise on us. In as much as we agree that local industries have to be protected, we were hoping for further engagement on this,” he said.

He indicated that Ghana was losing a lot of money because many importers were refusing to pay the new charges.

”We are not happy at all. The country has lost a lot of revenue because of the confusion because many people refused to pay for the new charges. We think that a minimum of three months or more would not be too much to ask," he stated.

Some freight forwarders have indicated that reversal of the discount on the benchmarks would lead to importers underestimating the value of their goods and also lead to the smuggling of goods.


The Ghana Revenue Authority initially announced that it would commence the reversal on January 4, 2022.

However, due to outcries by stakeholders in the import industry, the government extend the date for the implementation of the reversal to today, January 6, 2022.

He said the notice for the implementation of the reversal of the benchmark came at a short notice.

Benchmark value is the percentage of imported goods that would be taxed and it is meant to encourage local manufacturing of goods.

The Benchmark value on vehicles was discounted by 30 percent and that of some selected goods by 50 percent.

This means that only 70 percent of cars imported by an individual and 50 percent of these selected imports can be taxed.

Government implemented the measure in 2019 so the importers would reduce the price of goods they sell.

However, the government said importers were not reducing their prices and therefore the need to reverse the discount.

The reversal of the discount implies that 100 percent of all imported goods are taxable. Read Full Story