I have always wondered if people really pay attention to changes to the law especially after the budget is presented. I know everyone has figures of how much they will pay in terms of Pay As You Earn (PAYE), but do we take time to look at other issues as we may have benefits that we miss out. Do tourism enterprises for example know about the suspension on articles for their business?
I will be doing some highlighting of some important legal changes so that you can benefit from these changes. Let me start with this one.
S.I. No. 94 of 2012 was published on Friday 28th December. This particular S.I. suspends customs duty on sports equipment and articles used in sports. I thought I should look at this one to promote interest of "health" nation. The suspension is from 1st January, 2013 to 31st December, 2016. That's three (3) years of suspension.
This makes it cheaper as when you import these articles, you wont pay customs duty (but will pay for VAT or Excise duty if its applicable). So take time and look for the S.I. and invest in good physical exercise equipment. It is unfortunately that this country has retailers who benefit and will maintain the prices while not paying the customs duty. But if you are informed you can benefit from this little exercise.
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