BANDAR SERI BEGAWAN (Borneo Bulletin/ANN): Brunei's Ministry of Finance and Economy (MoFE) on Friday 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.
It said the move is a follow-up to the amendments made to the customs import and excise duties rate on products such as plastic in primary form, plastic bags and disposable plastic food containers that came into effect on May 17, 2023.
The ministry also said, “The government is aware that the change in the excise duty rate of these plastic products has impacted importers, plastic manufacturing industries and subsequently, businesses and consumers.”
Thus, the latest move aims to assist “businesses to prepare new strategies and adjust their operations accordingly, to support the initiatives towards reducing the use of plastic”.
The MoFE also extended its appreciation to the public for supporting of the government’s initiatives to reduce the use of plastic in the Sultanate to reduce environmental pollution and damage. - Borneo Bulletin/ANN
