Import Duties (MEC Exemption) Act 2008 (Bill No.14) | ESCAP Policy Documents Managment

Meta Data

Draft:

Yes

Revision of previous policy?:

Yes

Draft Year:

2008

Effective Start Year:

2008

Scope:

National

Document Type:

Act

Economic Sector:

Energy, Power, Other

Energy Types:

Oil, Power

Issued by:

Parliament of The RMI

Source:

Prdrse4all

File:

Import Duties (MEC Exemption) Act 2008 (Bill No.14)

Overall Summary:

A bill for an act to amend Section 206, subsection (4) of the Import Duties Act, 1989 in order to exempt the MEC from payment of import duties on all types of fuel imported into RMI, including fuel imported for power generation and commercial resale.

Trade

Import taxes and fee exemptions:

Notwithstanding any other provision in this Act to the contrary, the Marshalls Energy Company (MEC) shall be exempt from the payment of import duty tax on the import of all types of fuel into the Republic, including fuel imported for power generation and for commercial re-sale.

Full Document Text

NITIJELA OF THE REPUBLIC OF THE MARSHALL ISLANDS

29TH CONSTITUTIONAL REGULAR SESSION, 2008 BILL NO: 14

P. L. 2008-5

AN ACT

to amend Section 206, subsection (4) of the Import Duties Act, 1989 in order to exempt the Marshalls Energy Company (MEC) from the payment of import duties on fuel.

BE IT ENACTED BY THE NITIJELA OF THE REPUBLIC OF THE MARSHALL ISLANDS:

Section 1. Short Title

This Act may be cited as the Import Duties (MEC Exemption) Act, 2008.

Section 2. Amendment

(1)

Section 206, subsections (3) and (4) of the Import Duties Act, 1989 are hereby amended to read as follows:

§206. General exemptions

(3) No import duty shall be levied on lubricating oil and diesel fuel oil imported by, for, or on behalf of, or sold to the K wajalein Atoll Joint Utility Resource, Inc. (KAJUR) solely for the purpose of power generation. If import duties have been paid by an original importer, and residual fuel oil or diesel oil is subsequently resold to KAJUR for the purpose of power generation, then the original importer shall be entitled to a refund of import duties previously paid on that residual fuel oil or diesel oil.

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(4) Notwithstanding any other provision in this Act to the contrary, the Marshalls Energy Company (MEC) shall be exempt from the payment of import duty tax on the import of all types of fuel into the Republic, including fuel imported for power generation and for commercial re-sale.

Section 3. Effective Date

This Act shall take effect on the date of certification in accordance with the Constitution and the Rules of Procedures of the Nitijela.

CERTIFICATE

I hereby certify:

(1) That Nitijela Bill No: 14 was passed by the Nitijela of the Republic of the Marshall Islands on the 3rdday of October, 2008; and

(2) That I am satisfied that Nitijela Bill No.: 14 was passed in accordance with the relevant provisions of the Constitution of the Republic of the Marshall Islands and the Rules of Procedures of the Nitijela.

I hereby place my signature before the Clerk this 6th day of October, 2008.

Hon. Jurelang Zedkaia

Speaker

Nitijela of the Marshall Islands

Joe E. Riklon

Clerk

Nitijela of the Marshall Islands