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Seafood imports to face up to 35% levy from July

Seafood imports to face up to 35% levy from July
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July 02, 2024 (MLN): The federal government has levied a regulatory duty of up to 35% on various types of seafood, effective from July 1, 2024, and, unless rescinded earlier, will remain in force until June 30, 2025.

These duties are set under the Customs Act of 1969 and replace the previous notification (S.R.O. 966(1)/2022) dated June 30, 2022.

Accordingly, a duty of 35% is imposed on frozen fish, as well as on fish fillets and other fish meat (whether or not minced), fresh, chilled, or frozen.

Meanwhile, for the live fish section, a levy of 10% has been imposed.

A similar levy rate is applied to dried, salted, or brined fish; smoked fish, whether or not cooked before or during the smoking process; and flours, meals, and pellets of fish fit for human consumption.

Crustaceans, whether in shell or not, live, fresh, chilled, frozen, dried, salted, or in brine; smoked crustaceans, whether in shell or not, whether or not cooked before or during the smoking process; crustaceans, in shell, cooked by steaming or boiling in water, whether or not chilled, frozen, dried, salted, or in brine; flours, meals, and pellets of crustaceans, fit for human consumption would face a 10% duty.

The same rate applies for Molluscs, whether in shell or not, live, fresh, chilled, frozen, dried, salted, or in brine; smoked molluscs, whether in shell or not, whether or not cooked before or during the smoking process; flours, meals, and pellets of molluscs, fit for human consumption.

This 10% rate further extends to Aquatic invertebrates other than crustaceans and molluscs, live, fresh, chilled, frozen, dried, salted or in brine, smoked aquatic invertebrates other than crustaceans and molluscs, whether or not cooked before or during the smoking process; flours, meals and pellets of aquatic invertebrates other than crustaceans and molluscs, fit for human consumption.

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Posted on: 2024-07-02T10:51:20+05:00