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Customs and Excise highlights

Below are this week’s selected highlights in the Customs and Excise environment.

22 Jul 2016 1 min read Tax and Exchange Control Alert Article

The Draft Rates and Monetary Amounts and Amendment of Revenue Laws Bill intends to amend the Customs legislation as follows (not a comprehensive list):

  1. In Schedule 1 Part 1:
    1. Substitution in Chapter 22 of Additional Notes relating to products of tariff headings (“TH”) 2206.00.05 & 2206.00.19 and insertion of Additional Notes for TH2208.20.11 and 2208.20.91;
    2. Deletion of TH2208.20.10 and 2208.20.90;
    3. Substitution of TH2206.00.05 and 2206.00.19;
    4. Insertion of TH’s in heading 22.06 and 22.08;

Heading 22.06 is titled “Other fermented beverages (for example, cider, perry, mead); mixtures of fermented beverages and mixtures of fermented beverages and non-alcoholic beverages, not elsewhere specified or included” and heading 22.08 is titled “Undenatured ethyl alcohol of an alcoholic strength by volume of less than 80 per cent vol.; spirits, liqueurs and other spirituous beverages”.

  1. Amendment of Schedule 1 Part 2A relating to tariff item 104.00 (being “Prepared Foodstuffs; Beverages, Spirits and Vinegar; Tobacco”, and certain of its sub-items); and

  2. Insertion of Schedule 1 Part 3E entitled “Environmental Levy on Tyres”.

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