Importers displeased with new law

The importers and dealers are complaining they are losing time and especially money because of a law enforced at the end of last week, which binds them to pay their import-related fiscal obligations in advance or makes the goods stay longer at the customhouse. Law 79/2003, which endorses and completes Ordinance 61/2002 on budgetary receivables collection, published in the Official Gazette 193/16.03.2003, specifies “failure of the banks to clear the dues to the budget within 48 hours from charging the client’s account makes them liable for interests and penalties.” This stipulation gives companies two options: either pay the customs duties before the commodities actually reach the customhouse, which is a rather difficult thing to do because the exchange rate of the benchmark currency is not known, or pay the duties the moment the commodities reach the customhouse and wait at least 48 hours until payment is confirmed. ZF