General News of Friday, 6 September 2002
Parliament has amended the Customs, Excise and Preventive Service (Management Law) of 1993 on the importation of over-aged vehicles. The amendment makes provision for the payment of penalties in respect of all over-aged vehicles shipped into the country. The Act takes effect from August 12, 2002.
Those above 12 years old but not less than 15 years old will attract a penalty of 10% of the CIF value.
Where the vehicles are more than 15 years old but less than 20 years old, a 15% penalty of the CIF value will be imposed.
Commercial vehicles above 20 years old will attract a flat penalty of 50% of the CIF value.
Where such vehicles are over 12 years old but not more than 22 years old, a 10% penalty of the CIF value will be imposed.
A penalty of 30% of the CIF value will be imposed on all vehicles above 22 years.
For avoidance of doubt, the age of any vehicle will be determined from the year in which the motor vehicle was first manufactured.