Airports (Customs Duties and Excise Tax Exemption) Act


Published: 2008-12-24

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Airports (Customs Duties and Excise Tax Exemption)
AIRPORTS (CUSTOMS DUTIES AND EXCISE TAX
EXEMPTION)

[CH. 328C – 1





LRO 1/2010 STATUTE LAW OF THE BAHAMAS

CHAPTER 328C

AIRPORTS (CUSTOMS DUTIES AND EXCISE TAX
EXEMPTION)


LIST OF AUTHORISED PAGES
1 - 6 LRO 1/2010



ARRANGEMENT OF SECTIONS

SECTION

1. Short title and expiration.
2. Interpretation.
3. Exemption from customs duties and excise tax.
4. Grant of powers to Minister.
5. Minister may enter into agreement with approved developer.
6. Termination of duty.
7. Regulations.

SCHEDULE (Section 3)






AIRPORTS (CUSTOMS DUTIES AND EXCISE TAX
EXEMPTION)

[CH. 328C – 3





LRO 1/2010 STATUTE LAW OF THE BAHAMAS

CHAPTER 328C

AIRPORTS (CUSTOMS DUTIES AND EXCISE TAX
EXEMPTION)

An Act to grant certain import concessions on
construction materials required for airports and
matters connected therewith

[Assent – 24th December, 2008]
[Commencement – 24th December, 2008]

1. (1) This Act may be cited as the Airports
(Customs Duties and Excise Tax Exemption) Act.

(2) This Act shall expire on the 31st day of
December, 2014.

2. In this Act —
“building materials” means plumbing,

electrical, mechanical and construction
materials of all kinds necessary —
(a) for the construction of a new airport

building so that the same is complete
and ready for occupancy; or

(b) for the rehabilitation, remodelling or
extension of a new or existing airport;

“approved developer” means a company which
has management responsibility for the
airports as prescribed in the Schedule; and

“Minister” means Minister of Finance.
3. Notwithstanding anything to the contrary in the

Tariff Act and the Excise Act, an approved developer, who
imports building materials into The Bahamas for use in the
development of those airports designated in the Schedule,
may apply to the Minister for the approval of an exemption
from customs duties and excise tax.

4. The Minister shall by order amend the Schedule
to include other airports, and such building materials
imported for such airports, shall be exempt from the date of
that order for a period ending on the 31 st day of December
2014.

Short title and
expiration.

Interpretation.

Schedule.

Exemption from
customs duties
and excise tax.
Ch. 295.
Ch. 293A.
Schedule.

Grant of powers
to Minister.

Schedule.

[CH. 328C – 4 AIRPORTS (CUSTOMS DUTIES AND EXCISE TAX
EXEMPTION)





STATUTE LAW OF THE BAHAMAS LRO 1/2010

5. (1) The Minister may, if satisfied that the
development will be in the best interest of The Bahamas,
enter into an agreement with the approved developer
providing for the exemption of the approved developer
from the payment of all customs duties and excise tax in
respect of all materials necessary for the development,
which may be imported into The Bahamas; purchased or
taken out of bond therein by the approved developer during
such period as the Minister may determine, upon the
furnishing of a bond in a form to be approved by the
Comptroller of Customs with such sureties (if any) as may
be required by the Minister in double the amount of any
customs duties and excise tax which would ordinarily
attach on importation thereof for the payment of such
customs duties and excise tax on a date to be fixed by the
Minister, such bond being conditioned to become null and
void if, on or before the date specified in such bond, such
materials are applied only for the purpose specified in such
agreement.

(2) Every such agreement shall contain mutual
covenants on the part of the Minister and the approved
developer providing for the following matters, namely —

(a) that the concessions granted by such agreement
shall remain in full force and effect so long only
as the development shall continue to be used and
operated for the development of the airports;

(b) for the arbitration of all questions and differences
between the Minister and the approved developer;
and

(c) for the interpretation of such agreement according
to the laws of The Bahamas.

6. (1) At the end of the six year period, any building
materials in the possession of a supplier of building
materials that have been imported duty free and excise tax
free shall become subject to duty and excise tax.

(2) Every supplier who continues to supply building
materials imported duty free or excise tax free after such
period not having paid the required duty or excise tax shall
be liable on summary conviction to a fine of five thousand
dollars and the goods sold may be seized and proceeded
against in the same manner as goods liable to forfeiture
under the Customs Management Act.

Minister may
enter into
agreement with
approved
developer.

Termination of
duty.

Ch.293.

AIRPORTS (CUSTOMS DUTIES AND EXCISE TAX
EXEMPTION)

[CH. 328C – 5





LRO 1/2010 STATUTE LAW OF THE BAHAMAS

7. The Minister may make regulations for carrying
out the purposes of this Act.


Regulations.

[CH. 328C – 6 AIRPORTS (CUSTOMS DUTIES AND EXCISE TAX
EXEMPTION)





STATUTE LAW OF THE BAHAMAS LRO 1/2010

SCHEDULE

(Section 3)

AIRPORTS
1. Lynden Pindling International Airport ......New Providence
2. Marsh Harbour International Airport.........................Abaco
3. Treasure Cay International Airport............................Abaco
4. North Eleuthera International Airport................... Eleuthera
5. Moss Town International Airport ............................. Exuma