Government Amends Duty Drawback Rates: Increases for Marine Products, Leather, Bicycles; Reduces for Certain Chemicals.

The Government has amended the All Industry Rates of Duty Drawback, effective from January 25, 2018, following feedback on the revised rates implemented on October 1, 2017. Enhancements have been made to the drawback rates for certain marine products, rubber articles, leather goods, wool yarn/fabric, glass handicrafts, bicycles, and fishing/sports nets. Conversely, the rates for certain chemicals have been reduced. Additionally, Polypropylene Mats have been reclassified under a different tariff item. Public notices are advised for trade guidance, and any implementation issues should be reported to the Board.