XN000022-1986-03-13 — Page 15

THURSDAY, MARCH 13, 1986

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NEW PENALTIES FOR LATE TRADE DECLARATIONS IN FORCE TOMORROW

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PENALTIES FOR LATE IMPORT AND EXPORT DECLARATIONS AND THE MINIMUM CHARGE FOR THE AD VALOREM WILL BE REVISED WITH EFFECT FROM TOMORROW (FRIDAY).

THE IMPORT AND EXPORT (REGISTRATION) (AMENDMENT) REGULATIONS 1986, TO BE PUBLISHED IN THE GAZETTE TOMORROW, PROVIDES FOR THE FOLLOWING REVISIONS IN PENALTIES:

TOTAL VALUE OF ARTICLES SPECIFIED IN DECLARATION

NOT EXCEEDING

$20 000

EXCEEDING

$20 000

LATE LODGEMENT UP TO ONE MONTH AND 14 DAYS

LATE LODGEMENT UP TO TWO MONTHS AND 14 DAYS

$20 (FROM $10)

$40 (FROM $20)

$40 (FROM $20)

$80 (FROM $40)

NO CHANGE IS PROPOSED FOR THE PENALTIES FOR LATE LODGEMENT BEYOND TWO MONTHS AND 14 DAYS, AS THE CURRENT RATES ARE CONSIDERED TO BE ADEQUATE.

ACCORDINGLY THE AMENDED REGULATIONS ALSO PROVIDES FOR THE REVISION OF MINIMUM AD VALOREM CHARGE PER DECLARATION TO $5 FOR DECLARATIONS RELATING TO ARTICLES OF A VALUE NOT EXCEEDING $10 000.

HOWEVER THE BASIC RATE OF 50 CENTS PER $1 000 VALUE ABOVE THE MINIMUM WILL REMAIN UNCHANGED.

THE PRESENT MINIMUM CHARGE IS $2 FOR DECLARATIONS NOT EXCEEDING $4000.

MEANWHILE, THE CHARGE OF $2 WHICH APPLIED TO AN IMPORT SHIPMENT OF FOOD ITEMS IRRESPECTIVE OF THEIR VALUE WILL BE INCREASED TO $5, ALSO WITH EFFECT FROM TOMORROW.

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