Chapter 395

In short

This law, called the Customs and Excise Tax Act, establishes a system for imposing excise tax on imports, products, and services. It was introduced to replace the previous value-added tax system.

What it regulates

• The imposition of excise tax on imports (ETI).
• The imposition of excise tax on products (ETP).
• The imposition of excise tax on services (ETS).
• The administration, collection, and enforcement of this excise tax.

Who it concerns

• Individuals and bodies of persons involved in business activities that include importing, supplying products, or providing services.
• The Director of Customs and Excise Tax and other public officers responsible for administering this Act.

Key points

• The Act defines various terms such as "body of persons," "business activity," "employee," "goods," "product," and "service."
• The administration of the Act is vested in the Director of Customs and Excise Tax, who can delegate duties to other public officers.
• All information related to the Act is considered secret and confidential, with exceptions for official duties, appeals, prosecutions, and disclosure to the Auditor General, Commissioner of Inland Revenue, and Comptroller of Customs for revenue gathering purposes.
• The Director is obligated to carry out annual professional audits of registered persons and has the right to demand information, records, and access to premises for inspection.
• The Director can take samples of goods or products to determine how they should be treated for tax purposes, and these samples must be returned in good condition within a reasonable time.