Business updates

The obligation to affix excise stamps on bottles of beer and wine shall come into operation on 16 September 2019.

The MRA Customs has worked on the modalities for the smooth implementation of this Budget measure in consultation with all stakeholders. A presentation on the proposed amendments was made by MRA Customs on Thursday 14 March 2019 and can be accessed here.

It is to be noted that a moratorium of 6 months will be allowed to get rid of existing stocks without excise stamps, that is till 15 March 2020; and that there shall be an allowance of up to one percent of excise stamps that are damaged during the process of affixing the stamps on the bottles.