The federal government has introduced a regulatory duty of up to 35% on various types of seafood, effective from July 1, 2024, until June 30, 2025. This decision, enacted under the Customs Act of 1969, supersedes the previous notification dated June 30, 2022. The new duties are aimed at generating revenue and regulating imports within the country.
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A 35% duty is specifically imposed on frozen fish, fish fillets, and other fish meat, whether fresh, chilled, or frozen. Additionally, a 10% levy applies to live fish, dried, salted, or brined fish, smoked fish, and various fish-derived products fit for human consumption. The same 10% duty rate extends to crustaceans, molluscs, and other aquatic invertebrates, covering a wide range of seafood products.
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This comprehensive regulatory duty structure affects multiple categories of seafood, including crustaceans and molluscs in various forms, as well as fish and aquatic invertebrates. The federal government aims to regulate the seafood market, potentially impacting pricing and availability within the domestic market, while ensuring compliance with the new import guidelines.
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