The items to be affected include the home delivery value of vehicles, goods on which benchmark values are applied, and all other goods.
The government in 2019 introduced the benchmark policy in accordance with the World Customs Organisation’s policy of regular review of valuation database. Under this policy, certain commodities are benchmarked to the prevailing world prices as a risk management tool, to reflect the true market dynamics of these commodities. It also takes into consideration factors such as protection of health, the environment, and security as well as protection of local industries.
