Following the amendments to the customs import and excise duties rate on certain products, which includes duties on plastic's primary form, plastic bags and disposable plastic food containers with effect from 17th May 2023, the Ministry of Finance and Economy in a press release announced the temporary remit (suspension) of the excise duty rate. This is to assist businesses to prepare new strategies and adjust their operations accordingly, to support the initiatives towards reducing the use of plastic in the country.
As an interim measure, an excise duty rate of 5% of the declared trade value will be imposed temporarily on the Harmonized Code System, H-S codes. The Government of His Majesty is also aware that the change in the excise duty rate of these plastic products has impacted importers, plastic manufacturing industries and subsequently, businesses and consumers. The temporary remit (suspension) of the excise duty rate of 5 dollars per kilogramme on 139 lines of the H-S, namely under headings 39.01 to 39.14 and a few plastic products under the heading 39.23, until a date to be announced later.
The Royal Customs and Excise Department will refund the difference for any excise duty payments that have been made based on the $5 per kilogramme excise duty rate since 17th May 2023.
Source: Radio Television Brunei