Transit Customs Regime Diagnosis and Recommendations ... - MCLI

More documents

Recommendations

Info

Draft Report for SSATP –MCLI Mozambique Transit Regime Project 3.1.1.4 Bond / Guarantee Calculations CIF, DUTY and IVA Calculation The current means of calculating the customs value of goods by customs in order to determine the duty and VAT are applicable in Mozambique CIF (Cost, Insurance, Freight) Calculation CIF CALCULATION DESCRIPTION USD CALCULATION Commodity value 50 000 Value of the commodity Freight 5 000 10% of the commodity value Insurance 1 000 2% of the commodity value CIF Value 56 000 Duty Calculation DUTY CALCULATION DESCRIPTION USD CALCULATION CIF Value 56 000 Cost, Insurance and Freight value Duty Percent 5% 5 % for the sample commodity Duty Value 2 800 IVA Calculation IVA CALCULATION DESCRIPTION USD CALCULATION CIF + Duty Value 58 800 CIF plus Duty values IVA Percent 17% IVA IVA Value 9 996 Risk Value and Bond Calculation Risk Value Calculation RISK VALUE DESCRIPTION USD CALCULATION Duties 2 800 5 % for the sample commodity IVA 9 996 17% of the CIF plus Duty values Risk Value CIF Value 12 796 Bond Amount in Meticas BOND AMOUNT DESCRIPTION MET CALCULATION Duties + IVA 12 796 5 % for the sample commodity Rate of Exchange 27.40 Rate of Exchange. September, 2011 Bond Amount in Meticas 350 610 P a g e | 27
Draft Report for SSATP –MCLI Mozambique Transit Regime Project Individual Bond Cost Calculation When cargo is moving on an individual bond, the below charges are applicable. There have been many different calculations that have been noted throughout the exercise. It is recommended that the new legislation clearly stipulates what the applicable charges are for transit cargo and that these are aligned throughout the country. BOND COSTS DESCRIPTION USD CALCULATION Amount to Lodge 12 796 Value of the commodity Bond Admin Fee 525 4.1 % of the value to be lodged Bond Cost 512 4% of the value to be lodged Acquittal Fee 128 1% of the value to be lodged Interest on Amount 128 Interest rate at 12% BOND COSTS TO BE PAID 14 088 COST EXCLUDING BOND * 1 292 * Bond Refund 1. The bond amount lodged is returned, currently 10 days, after the shipment has been acquitted 2. The lodging of a bond hinders cash flow and has a direct cost in terms of interest lost 3. The length of time of acquittals hinders the flow of goods, especially for volume shippers Bond Deduction Mechanism At present, when a bond has been lodged with customs, the CIF value of a shipment is the amount used to reduce the bond amount. This means that a limit of 2-3 containers can move under that bond amount at a time. If the risk value of the goods in transit was deducted instead of the CIF value, a greater volume of shipments could be moved under the same bond amount Current Bond Deduction Mechanism BOND DEDUCTION DESCRIPTION USD CALCULATION Amount Lodged 150 000 USD150,000 (see bond table) CIF Value 56 000 Cost, Insurance and Freight value Bond Remaining 94 000 Bond Deduction Mechanism based on Risk Value BOND DEDUCTION DESCRIPTION USD CALCULATION Amount Lodged 150 000 USD150,000 (see bond table) Risk Value 12 796 Duty and VAT Bond Remaining 137 204 P a g e | 28
Page 1 and 2: October 2011 REPORT PHASE 1 A08 SSA
Page 3 and 4: Draft Report for SSATP -MCLI Mozamb
Page 27: Draft Report for SSATP -MCLI Mozamb
Page 79 and 80:
Draft Report for SSATP -MCLI Mozamb
Page 81 and 82:
Page 83 and 84:
Page 85 and 86:
Page 87 and 88:
Page 89 and 90:
Page 91 and 92:
Page 93 and 94:
Page 95 and 96:
Page 97 and 98:
Page 99 and 100:
Page 101 and 102:
Page 103 and 104:
Page 105 and 106:
Page 107 and 108:
Page 109 and 110:
Page 111 and 112:
Page 113 and 114:
Page 115 and 116:
Page 117 and 118:
Page 119 and 120:
Page 121 and 122:
Page 123 and 124:
Page 125 and 126:
Page 127 and 128:
Page 129 and 130:
Page 131 and 132:
Page 133 and 134:
Page 135 and 136:
Page 137 and 138:
Page 139 and 140:
Page 141 and 142:
Page 143 and 144:
Page 145 and 146:
show all

Transit Customs Regime Diagnosis and Recommendations ... - MCLI

Create successful ePaper yourself

Delete template?

Save as template?