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ContractDate Posted: 2009-09-02 06:09:27
What is the duty rate for crude oil and natural gas exports? And what is the duty rate for goods and equipments imports, which are necessary for Hydrocarbon Operations. Please give some more detailed information related to Customs Duties.
Answer
Date Answered: 2009-09-02 06:09:26
At present there is only an Imports Tariff however for the dutiable exporting items the same duty codes (HS codes) and Duty Rates have been used so far.
In the said tariff for the Natural Gas HS Code 2711.2100 with a duty rate of 2.5% with the statistical unit of Kilogram (Kg).
HS Code 2709.0000 is dealing with Petroleum oils and oils obtained from bituminous minerals, crude, for which again the duty rate is 2.5% and the measurement unit Kg.
For the calculations of imports duties the Cost, Insurance & Freight (CIF) are taken into consideration.
For the import duties of equipment/machinery used in Hydrocarbon Operations, it is suggested that the specific equipment/machinery should be listed to the Ministry of Finance, Tariff and Valuation Department, as each item has got separate HS Code and varying duty rates.
In the said tariff for the Natural Gas HS Code 2711.2100 with a duty rate of 2.5% with the statistical unit of Kilogram (Kg).
HS Code 2709.0000 is dealing with Petroleum oils and oils obtained from bituminous minerals, crude, for which again the duty rate is 2.5% and the measurement unit Kg.
For the calculations of imports duties the Cost, Insurance & Freight (CIF) are taken into consideration.
For the import duties of equipment/machinery used in Hydrocarbon Operations, it is suggested that the specific equipment/machinery should be listed to the Ministry of Finance, Tariff and Valuation Department, as each item has got separate HS Code and varying duty rates.