- The government changed how import duties are calculated to lower import costs.
- Duties on insurance and freight have been removed.
- The calculation method shifted from CIF to FOB.
- The policy aims to reduce expenses for importers and make goods more affordable for consumers.
Source: gov.vg
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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