Drop in custom fees on intermediate goods
Kingston, Jamaica — Effective February 1, applicable Customs Administration Fee (CAF) associated with intermediate goods will be similar to that of raw materials, Commissioner of Customs Major Richard Reese told OBSERVER ONLINE Tuesday night.
Intermediary goods refer to items which have been transformed from their natural state by being worked or processed, but which have to undergo further working or be incorporated along with some other goods or material in the production of primary products or the manufacture of goods.
Last year several business operators led by former president of the Jamaica Manufactures Association, Omar Azan called for the government to reconsider the amendment to the tax law which resulted in manufacturers paying more in customs fees to clear imported inputs.
Reese last night said that the Jamaica Customs consulted with the Ministry of Finance regarding the definition of raw materials as it relates to the CAF and the decision taken to adjust the fees of intermediate goods in line with that of raw materials.