(MENAFN- Caribbean News Global)
ST GEORGES, Grenada – As part of the government of Grenada efforts to alleviate the impact of external shocks on the Grenadian population, cabinet has approved the adjustment of
freight in the calculation of duties and taxes on imported goods to reflect 2019 freight costs.
A press release on September 30 said:“The freight cap will be applied to the importation of all goods landed in Grenada during the period October 1, 2022, to March 31, 2023. The implementation of the cap will see only minor changes in the current processes of Customs Brokers and Importers, who will follow existing processes in preparing the customs declaration.”
For commercial imports, there will be a requirement to identify freight actually paid on the Valuation Note of the Customs Declaration.
In the case of non-commercial imports, agents will input actual freight paid in the preparation of the Simplified Administrative Document (SAD). The Customs Computerised System, ASYCUDA World, will make the necessary adjustments and apply
the reduced freight for the calculation of duties and taxes. All other clearance processes remain the same.
The Customs and Excise division anticipates a seamless introduction of the freight cap and looks forward to the cooperation of the public, adding“the public is reminded of the legal obligations to make true and correct declarations.”
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.