Transcription of EXPLANATORY MEMORANDUM Customs Tariff …
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EXPLANATORY MEMORANDUM Customs Tariff …
Customs Tariff (2018 Budget)(Amendment) - 1 - EXPLANATORY MEMORANDUM Customs Tariff (2018 Budget)(Amendment) Bill 2017 The bill proposes an amendment to: 1. suspend the last phase of the TRP scheduled for 2018 until a review is conducted. There has been significant concerns raised by PNG manufacturers on the stiff competition coming from imported goods. Hence, the Government in an effort to support local manufacturers increased import tariffs on certain Tariff items. This Bill is expected to reduce health related issues, enable local manufacturers to compete with imports, increase economic activities and create employment for our people. 2. corrects the drafting errors and restore missing headings, Tariff codes and items, descriptions and duty rates. 3. capture resource rent based on log value by applying progressive duty rate on export of unprocessed old-growth logs.
Customs Tariff (2018 Budget)(Amendment) - 1 - EXPLANATORY MEMORANDUM Customs Tariff (2018 Budget)(Amendment) Bill 2017 The bill proposes an amendment to:
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