Customs duty exemption cap revised, limiting exemption to duty exceeding a composite ad valorem rate plus a per tonne charge. The amendment substitutes the original exemption wording to restrict exemption to that portion of customs duty 'which is in excess of the amount calculated at the rate of an ad valorem percentage plus a fixed per tonne amount,' so importers are liable for duty up to that combined threshold and exemption applies only to duty above it.
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Customs duty exemption cap revised, limiting exemption to duty exceeding a composite ad valorem rate plus a per tonne charge.
The amendment substitutes the original exemption wording to restrict exemption to that portion of customs duty "which is in excess of the amount calculated at the rate of an ad valorem percentage plus a fixed per tonne amount," so importers are liable for duty up to that combined threshold and exemption applies only to duty above it.
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