The Benchmark Value Discount Policy was introduced in April 2019 by government in an attempt to make the Ghanaian ports competitive, reduce smuggling and increase government’s revenue from the port. The policy provided a discount of 50% on the delivery or benchmark values of imports with the exceptions of vehicles. The delivery values for vehicles were reduced by 30%.
The Finance Minister, in the 2022 Budget Statement, indicated government’s intention to review the policy in respect of all imports followed by a communication to remove the discount policy. The government however suspended moves to remove the discount policy to allow for extensive stakeholder engagement on the viability of the policy and its impact on both government revenue and the domestic manufacturing industry.