No rush to enjoy deferred payments

Press, 11 September 1986, Page 30

No rush to enjoy deferred payments

PA Wellington Importers are not taking advantage of the new deferred payment of duty scheme which will come into operation on October 1, the Customs Department said. The scheme will allow importers to delay payment of customs charges for between three and seven weeks. The Acting Comptroller of Customs, Mr Warwick Crooks, said that when submissions were made on the introduction of a goods and services tax there was much comment that GST on imported goods would penalise importers. It was pointed out that domestic purchasers would not pay GST on purchase, as normal commercial credit terms allow payment at a later date, usually 20 days after the end of each month. To make allowances for the fact, the department devised the deferred payment of duty scheme. “It would seem, however, that the comment that importers wanted equal treatment was wrong,” said Mr Crooks. “The Customs Department has received only 2000 applications for participation in the scheme from an expected 20,500 importers now importing.” The deferred payment scheme will be run by the Customs Casper computer syaem. Importers must apply by September 19.