The Ministry of Finance and Economy (MoFE) on Thursday announced the temporary suspension of the excise duty rate of BND5 per kilogramme on a number of plastic products.
“As an interim measure,” the ministry added, “an excise duty rate of five per cent of the declared trade value will be imposed temporarily” on 139 lines of the Harmonised Code System, namely under headings 39.01 to 39.14 and a few products under the heading 39.23.
The Royal Customs and Excise Department (RCED), the MoFE said in a statement, will “refund the difference for any excise duty payments that have been made” based on the BND5-per-kilogramme rate since May 17, 2023.
-- Courtesy of Borneo Bulletin