Penalty caps revised in customs law reducing multiplier-based fines and increasing minimum monetary penalty thresholds. Amendment revises penalty computation under the Customs Act by replacing ceilings expressed as multiples of value, duty sought to be evaded, or the difference between declared and actual value with ceilings equal to the value, the duty sought to be evaded, or the difference itself, and by increasing the fixed minimum monetary penalty applied across those contingencies.
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Penalty caps revised in customs law reducing multiplier-based fines and increasing minimum monetary penalty thresholds.
Amendment revises penalty computation under the Customs Act by replacing ceilings expressed as multiples of value, duty sought to be evaded, or the difference between declared and actual value with ceilings equal to the value, the duty sought to be evaded, or the difference itself, and by increasing the fixed minimum monetary penalty applied across those contingencies.
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