Section 53
Amendment of section 70
ActIn forceProvision 53 of 59
Section 53
Section 70 of the principal Act is amended by substituting for subsection (1) the following subsection:
“(1) In relation to goods that have been imported and deposited in the warehouse and for which tax would be chargeable on the imported goods, there shall be a scheme to be known as the “Warehousing Scheme” which allows—
(a)
tax chargeable on the imported goods to be suspended when the imported goods are deposited in the warehouse;
(b)
supplies of goods made between the warehouses to be disregarded; and
(c)
supplies of goods made within the warehouses to be disregarded except for the last of such supplies of goods which are removed before the duty point.”.