21 March 2017
BRUNEI: Duty Falls on ‘Essential’ Imports While Rising on Luxury Goods
A range of amendments to import duty and excise tax rates across a variety of products are to be introduced from 1 April, including the replacement of the 20% import duty payable on automotive spare parts with a 5% excise duty. In the case of mobile phones, digital cameras and watches, which are deemed to be luxury goods, the 5% import duty payable has been superseded by a 10% excise tax.
The amendments come as part of a government drive to make essential imports cheaper, with the cost being offset by higher duties on luxury goods.
Details of the amended duty rates most likely to affect Hong Kong exporters are listed below:
Official source – Ministry of Finance Press Release