Shippers in the Bono, Bono East and Ahafo Regions have been sensitized on the Benchmark Value Reversal Policy and the Africa Continental Free Trade Agreement (AfCFTA) as part of the Ghana Shippers’ Authority (GSA) nationwide education and sensitization drive.
The sensitization workshop was factored into the 85th Brong Ahafo Regional Shipper Committee (BARSC) meeting held at Sunyani on Tuesday 14th June, 2022.
The participants were also sensitized on the ECOWAS Common External Tariff, Tariff Bands, and how they are incorporated into the guidelines for the implementation of the Reduction of the Benchmark Values among others.
Members of the BARSC used the occasion to express concern over the rise in the cost of doing business, which they alluded to high import duty. They called on the government to implement policies that would remedy the situation and stabilise the exchange rate for the local currency against the major trading currencies.
A Principal Officer of the Customs Division of the Ghana Revenue Authority, (GRA), Mr. Jonathan Debrah, explained that the government’s aspiration was that easing the import regime would make Ghana’s ports more attractive and competitive, as well as increase imports and earnings.
Subsequent to consultations with relevant stakeholders, the government launched a revision of the policy resulting in a cutback on the discount offered on the delivery value of imports.
The change came into effect on 1st March, 2022. It is expected that all pre-manifest declarations processed and paid before the effective date will not be affected by the new policy even when the goods are yet to arrive in the country. Also, any Bill of Entry (BOE) processed and validated before the effective date, for which the tax bill is yet to be settled, will not be affected.
