DEFERRED PAYMENT SYSTEM FOR CUSTOMS DUTY AND OTHER TAXES

A security deposit or guarantee is required to cover duties and taxes of (a) temporary
imports for re-exportation (which is refunded upon re-export), (b) goods cleared at
Dryports, (c) temporarily imported sensitive goods (prohibited/restricted, high-tariff, or
smuggling-prone) of investment firms, or (d) goods in dispute (i.e. with claims of
exemption). However there is no drawback system. A bank deposit is the acceptable
form of security.
Deferred or post-entry payment of duties is not provided by the 1989 law although
regulations allow a 1 week to 10 day period between release and due date for
companies with a good track record. However this is rarely used. The draft Customs law
covers this.