Beginning today, the Customs and Inland Revenue Divisions are mounting a crack down on dishonest importers.The joint exercise by the Ministry of Finance and the Customs Division, will continue for three-months at the Honiara International Sea Port to check on imports to stop importers undervaluing goods.
This is in response to protect the crucial government revenue on import duties and other taxes, often crooked by ignorant importers.
Valuations of imported items determine how much import duty and goods tax is payable in respect of those goods.
In instances where importers undervalue their goods, the government loses significant revenue on import duty.
It has been revealed that previous joint exercises have been very successful. The last exercise resulted in the discovery of a large amount of undeclared and undervalued goods.
"A large amount of the country's revenue is collected at the Honiara International Sea Port and it is necessary to ensure that our systems are robust," says Acting Permanent Secretary for the Ministry of Finance, Elizabeth Kausimae.
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