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Wednesday, August 29, 1973
DECLARATION OF IMPORTS AND EXPORTS
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Importers and exporters were today reminded of their obligations under the Import and Export (Registration) Regulations to lodge trade
declarations and pay ad valorem charges within 14 days of transacting
business on all imports and exports other than those which are exempted.
A spokesman for the Commerce and Industry Department warned that
prosecutions would be initiated against those who, without reasonable
excuse, fail to lodge the necessary trade declarations.
Trade declarations submitted outside the prescribed period of
14 days will be liable, without any further notice, to penalty charges
which rise after two months to a maximum of $50 per declaration where the
total value of articles specified does not exceed $20,000.
Where the value exceeds $20,000, the penalty charges rise after
two months to a maximum of $100 per declaration.
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