May 27, 2019 News
The Customs (Amendment of Schedules) Bill 2019 was recently passed by the National Assembly.
In it, there are five separate schedules, which have replaced all the schedules to the Principal Customs Act. Minister of Finance, Winston Jordan, said that the bill will ensure that Guyana is compliant with international trade obligations and will ensure consistent laws to facilitate trade and protect Guyana’s revenues.
The first schedule is that of the Harmonised Commodity Description and Coding Systems, otherwise known as the Harmonised System. It is a six-digit international commodity classification system used by government, international organisations, and the private sector for, among other things, customs tariffs, developing international trade statistics, freight rates, and production statistics.
The Customs (Amendment of Schedules) Bill 2019 touts the system as offering uniformity in the treatment of goods from one country to another, in four streams: the obtainment of consistent tariff treatment for imported goods; the benefit of researchers to have consistent classes of goods for trade statistics; the use of consistent codes by transporters of commodities in trade; and accuracy in the comparison of trade figures by economic negotiators.
The Sixth Edition of the Harmonised System, controlled by the World Customs Organisation (WCO), according to the amendment, has a logical class structure, consisting of 21 sections, divided into 97 chapters which comprise of about 5000 commodity classes. It is supported by Rules of Interpretation and legal notes, explained in the amendment.
“Now we have moved to the 2017 version which is the current version that will ensure that Guyana is compliant to its obligations to the World Customs Organisation and to also ensure a more modern and consistent legislation in trade to protect Guyana’s revenues,” Minister of Finance, Winston Jordan, told the assembly.
The remaining parts of the first schedule lists conditional duty exemptions granted to member states of the Caribbean Community, under the CARICOM Common External Tariff System, when such goods are imported by persons, enterprises and organisations in the circumstances. They also list exemptions from export duties of customs.
Jordan said that the system introduces regulations to control dangerous chemicals and organic pollutants, while new products are now classified under new headings.
“Advances in technology are also included in the amendments, like LED lamps, multi-component integrated circuits, and hybrid vehicles.”
The second schedule of the amendment lists a series of “prohibited and restricted imports”. Prohibited Imports include counterfeit coin, food that is unfit for human consumption, infected cattle and stamps.
The Restricted Imports include arms and ammunition, a series of illicit narcotics, exotic species of fish, tobacco, and certain vehicles.
The Third Schedule of the amendment lists “prohibited and restricted exports”. Prohibited exports include goods (the importation of which is prohibited by any other local law), and any articles, save for some personal items like rings and watches, as well as a high amount of cash.
The Restricted Exports only list goods, the exportation of which is regulated by local law.
The Fourth Schedule of the Customs Tariff lists conditions to be complied with as provided under article 84 of the Revised Treaty of Chaguaramas, and rules regarding what commodities should be classified as being of community origin.
The Amendment’s fifth schedule details the value of imported goods.
Was Jagdeo honest when he made those promises?
Sep 21, 2023– Warriors face Tallawahs Friday with last spot in finals up for grabs Kaieteur Sports – Man-of-the-match Chadwick Walton cracked an unbeaten 80 as Trinbago Knight Riders (TKR)...
By Sir Ronald Sanders (The writer is Antigua and Barbuda’s Ambassador to the United States and the Organization of American... more
Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.