|
No. 26 of 2002 |
AN ACT TO AMEND THE TARIFF ACT,
1996 TO |
PROVIDE FOR DUTY FREE CONCESSIONS
ONCE IN |
EVERY FIVE YEARS ON CERTAIN
FRANCHISE |
VEHICLES AND FOR TAXI-CAB AND
LIVERY CAR |
LICENCES |
(Date of Assent – 30th
December, 2002) |
Enacted by the Parliament of The
Bahamas. |
1. This Act may be cited as the
Tariff (Amendment) Act, 2002. | Short title. |
2. The Fourth Schedule of the
Tariff Act, 1996 is amended as follows | Amends Fourth Schedule to No. 11 of
1996. |
(a) repeal item 16 and replace with
the following - |
"16. Taxi-cabs, Omnibuses, Livery and
Tour cars |
(1) Any new motor vehicle imported
between 1 January 2003 and 1 January 2008 for use by the holder of a taxi-cab
or livery car licence. |
(2) Any new motor vehicle imported
between 1 January 2003 and 1 January 2008 for use by the holder of an omnibus
or tour car franchise. |
(3) Where any new motor vehicle is
purchased in The Bahamas for use as a taxi-cab, omnibus, livery or tour car,
the customs duties paid on the said motor vehicle shall be refunded by the
Comptroller of Customs, except that in respect of a used motor vehicle
purchased in The Bahamas, the duty to be refunded is the duty applicable to the
value of the vehicle as levied by the Comptroller of Customs at the time of the
purchase. |
(4) Where any new motor vehicle is
imported into or purchased in The Bahamas for use as a taxicab, omnibus, livery
or tour car as specified in sub-items (1), (2) and (3) and the said motor
vehicle is used for any purpose other than that of a taxi-cab or livery car licence
or for use in an omnibus or tour car franchise, the customs duties which would
have been payable shall forthwith therefor become payable and the customs
duties which were refunded shall be payable. |
(5) The owner of a new motor vehicle
imported or purchased under this section shall only be entitled to such duty
free concessions once in five years. "; |
(b) insert in the appropriate position
the following item under the heading Reduction of Duty - |
"5.(a) Where a used motor vehicle
not older than three years is imported between 1 January 2003 and 1 January
2008 for use as a taxi-cab, livery, tour car, or omnibus for use in an omnibus
franchise, the customs duties payable shall be fifty per centum of the customs
duties which would have been payable. |
(b) Where a used motor vehicle not
older than three years is purchased in The Bahamas between 1 January 2003 and 1
January 2008 for use as a taxi-cab, livery, tour car or omnibus, for use in an
omnibus franchise, fifty per centum of the customs duties which would have been
payable had the vehicle been imported at purchase date shall be refunded by the
Comptroller of Customs and in determining the duty to be refunded the
Comptroller of Customs, must calculate the refund on the lower of either the
market value or the purchase price. |
(c) Where any used motor vehicle is
imported or purchased in The Bahamas for use as a taxi-cab, livery, tour car or
omnibus and the said motor vehicle is used for any purpose other than that of a
taxi-cab, livery, tour car or omnibus, the customs duties which would have been
payable shall therefor become payable or the customs duties refunded shall
forthwith become payable.". |