Customs duty cap limits excess import duty on antiques and artwork to a prescribed ad valorem rate. The Central Government, invoking its powers under the Customs Act and being satisfied of public interest, exempts imports classified under Chapter 97 from customs duty to the extent that such duty exceeds an ad valorem cap, so that only the amount of duty up to a specified ad valorem rate is leviable on antiques, artwork and related goods at importation.
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Customs duty cap limits excess import duty on antiques and artwork to a prescribed ad valorem rate.
The Central Government, invoking its powers under the Customs Act and being satisfied of public interest, exempts imports classified under Chapter 97 from customs duty to the extent that such duty exceeds an ad valorem cap, so that only the amount of duty up to a specified ad valorem rate is leviable on antiques, artwork and related goods at importation.
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