The official said that around R5 billion corruption is committed annually in terms of customs duty
He said the Viscose staple fibre, which is not being manufactured locally, be allowed to be imported at zero customs duty
The basic customs duty
on imported flat-rolled products of stainless steel has been increased from 5 per cent to 7.
These includes imposition of basic customs duty
on certain items outside the purview of IT Agreement, exemption for inputs/components in PC manufacturing from SAD, imposition of education cess on imported electronic products for parity etc.
If a second customs duty
gets imposed, it will make the transaction an unprofitable one straightaway.
Currently, the customs duty
on one kilo of gold is estimated at SR 10,000, while the new move would reduce the customs duty
to SR 1,500 per kilo.
Also, basic customs duty
on high-end imported cars and other motor vehicles costing more than $40,000 (approximately Rs 22 lakh) and with engine capacity exceeding 3000cc for petrol engines and 2500cc for diesel engines has been increased from 75 per cent to 100 per cent.
Suggestions made included passing new customs laws and procedures in cooperation with the Customs Duty
Officers Union, which includes 350 members, and represents 20% of all customs employees in Alexandria.
Summary: Hundreds of Indian expatriates are signing up an online petition seeking the withdrawal of customs duty
on gold ornaments while travelling to their country.
I have paid the customs duty
on sacrificial animals never before during my 15-year business," said Rokhan, a resident of the Khosh Gunbad area of the provincial capital, Jalalabad.
Akl urged the government to enforce quality-control procedures, instead of levying a 20-percent customs duty
on imported safety products such as helmets for two-wheeled vehicles or ATVs, and helmets used by construction workers.
5 billion following exemption of customs duty
on import of tea whereas the revenue impact pertaining to reduced rate of sales tax would cost Rs 2.
As a result, many financial executives for whom customs duties have been an "out of sight, out of Customs duties--like excise taxes and value-added taxes--are an indirect tax, buried within the cost of goods sold, and for companies that deal in hard goods, they should be considered as costs by financial executives when planning overall financial, tax and compliance strategies mind" experience can only hazard a rough guess at their annual customs duty
He pointed out that both the countries have reduced customs duty
to 20 percent on 648 tradable items which are included in the list under PTA.
The International Monetary Fund recommends tax on selected goods like tobacco, cars and electronic items and the removal of customs duty
on all imports, with the tax being collected directly from the distributors, agents and wholesalers.