Business updates

The Second Schedule of the Consumer Protection (Maximum Mark-up) Regulations 1998 regarding the format of the Return Form to be submitted to the Ministry of Industry and Commerce has been amended by Government Notice No. 212 of 2016. A company making its return for goods for which the mark-up is controlled will be required to submit additional information including the Business Registration Number, Value Added Tax Registration Number, Brand name, FOB Value, Freight and Insurance.

In addition, the Third Schedule to the Regulations has also been amended. A company submitting its return will be required to give information on the Batch Number of the goods on which the mark-up is controlled.

A copy of the Government Notice No. 212 of 2016 can be accessed by clicking here.

The Regulations will come into operation on 15 November 2016.