Thursday, July 18, 2024
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Customs Import and Excise Duties amendments effective May 17

The Ministry of Finance and Economy has announced that with the consent of His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam, the amendments to the Customs Import and Excise Duties will be implemented effective May 17.

The objectives of the amendments to the customs import and excise duties are; to streamline the duty structure for goods in this country with the ASEAN Harmonised Tariff Nomenclature (AHTN) 2022 and to enhance the competitiveness of business and investment climate in the country and  to fulfill certain commitments under the Free Trade Agreements (FTAs).

More details on Tuesday’s Borneo Bulletin