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  Home > Breaking News


Amendments to the Customs Import and Excise Duties Effective 1st April 2017


 


 March 11th, 2017  |  14:55 PM  |   12894 views

NEGARA BRUNEI DARUSSALAM

 

The Ministry of Finance has announced that with the consent of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam, the amendments to the Customs Import Tax and Excise Duties will be implemented effective 1st April 2017.

 

The objectives of the amendments to the customs import and excise duties among other things are to streamline the tax structure for goods in this country that will be able to support a number of key objectives, such as to enhance the competitiveness of business and investment climate in the country as well as to fulfill certain commitments under the Free Trade Agreements (FTAs) with several countries either on a bilateral or multi-lateral basis. The restructuring of the import and excise duties also focuses on specific products with the purpose of meeting certain objectives, such as alleviating the cost of living for specific groups; focusing on the reduction of prices for certain goods to encourage its usage; and at the same time to control the use of certain products in order to improve the health and well-being of citizens and residents of this country.

 

To balance the reduction in revenue for certain goods, tax rates for certain products such as mobile phones, leather and fur skin products, video games and other items will be increased.

 

In support of the initiative to create a healthy society, the Government of His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam through the Ministry of Health will introduce an assistance scheme for mothers giving birth to newborns, who are Citizens and Permanent Residents of the country. The assistance given will be as follows:

  • Assistance in the form disposable diapers for every new-born for a period of 12 months from the date of birth; and
  • Assistance in the form of a breast-pump given at every birth of a child or for a period of two years, subject to which period is longer.

Further information about the amendments to the tax rates can be obtained from www.bdnsw.gov.bn or www.tradingacrossborders.gov.bn and by contacting the Customs and Excise Department on 2382361.

 

The list of goods included in the amendments can be downloaded from here.

 


 

Source:
@BRUDIRECT.COM

by Brudirect.com

 

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