Customs tariff revisions standardise ad valorem and specific duties across chapters, adding unit based duties and some free classifications. The Finance Act, 2005 amends the First Schedule to the Customs Tariff Act by substituting new entries for column (4) (and where specified column (5)) across numerous chapters. The primary measure is substitution of a standard ad valorem duty of 15% for most tariff items, with targeted exceptions assigning alternate ad valorem rates, specific duties, combined rules of '15% or [specific amount] per unit/weight/area, whichever is higher', and explicit 'Free' classifications. Part II replaces Chapter 22 heading 2208 entries with detailed sub-headings for spirits and assigns specified duty entries; it also inserts and revises numerous chemical tariff items in Chapters 28-29 and others with operative duty entries.
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Customs tariff revisions standardise ad valorem and specific duties across chapters, adding unit based duties and some free classifications.
The Finance Act, 2005 amends the First Schedule to the Customs Tariff Act by substituting new entries for column (4) (and where specified column (5)) across numerous chapters. The primary measure is substitution of a standard ad valorem duty of 15% for most tariff items, with targeted exceptions assigning alternate ad valorem rates, specific duties, combined rules of "15% or [specific amount] per unit/weight/area, whichever is higher", and explicit "Free" classifications. Part II replaces Chapter 22 heading 2208 entries with detailed sub-headings for spirits and assigns specified duty entries; it also inserts and revises numerous chemical tariff items in Chapters 28-29 and others with operative duty entries.
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