The information below explains some important points you need to be aware of when making an Import Entry.
Cayman Islands Imports Act
1. When an entry is to be made: The Customs and Border Control Act requires an entry to be made within 7 days of the arrival date. It is the importer’s responsibility in law to enter all goods (whether dutiable or not) with the Customs and Border Control Service.
2. By whom an entry may be made: The entry must be made by the Importer of the goods concerned or by his duly authorized agent (who may be asked to produce documentary evidence that he is so authorized).
3. Country whence consigned: This means the country from which the goods were shipped from.
4. Rate of Exchange: In the case of goods valued in a foreign currency, the rate of exchange to the Cayman Islands dollar current is the rate in force on the date of arrival.
5. Description of Goods: Goods must be described in sufficient detail to enable them to be clearly identified by CBC Officers, along with the tariff code concerned. Goods falling under different tariff codes must be entered as separate items on the entry whether they are of the same duty rate or not.
6. Country of Origin: This means the country in which the goods were originally produced or manufactured.
7. Quantity in appropriate units: This relates to specific duty items that is calculated by the quantity, e.g. liquor, fuel, cigarettes etc. The total amount of liters, gallons or whatever specific measurement is used by the applicable tariff code for each item is to be entered here.
8. Invoiced Cost: This should be the invoiced price of the goods, converted, where necessary, at the current rate of exchange of the arrival date to Cayman Islands (KYD) dollars.
9. Freight: The actual cost of freight should be quoted, irrespective of whether or not it is included in the invoiced cost. Freight includes all inland and any other freight charges that may be incurred.
10. Value for Duty: In the Act, this is the cost of the goods (including insurance and freight) at the time the goods are entered; it must be an “open market” price - i.e., the price which the goods would fetch in a sale between a buyer and a seller independent of each other. If the signatory cannot conscientiously sign the declaration in so far as it refers to dutiable value (e.g. because the importer is a branch, subsidiary or agent of the consignor) he should consult the CBC Officer for advice as to how to arrive at an acceptable value. The relevant invoices and bill of lading or airway bill must be submitted with all entries.
11. Tariff Heading/Code: These are found in the First Schedule to the Customs and Border Control Act known as the Customs Tariff Act, copies of which can be obtained from the Legislative Assembly. Exemptions are listed in the Second Schedule of the Customs tariff.
12. Rate of Duty: The duty rates are also listed in the first schedule of the Customs Tariff Act.
13. Duty Payable: This means the amount of duty due. If otherwise dutiable goods are exempted from duty by virtues of orders made by the Cabinet under section 52 of the Customs and Border Control Act, Duty Waivers, or one of the conditional duty exemptions itemized in the Second Schedule to the Customs Tariff Act, the duty waiver or exemption should be declared on the entry, together with an undertaking that the Importer will ensure that any conditions attached to such an exemption or waiver of duty will be observed. Any Duty Waivers/Exemptions not covered under the Second Schedule of the Customs Tariff Act must be accompanied with a letter from the Governor or Cabinet authorizing the exemption.
14. Package Tax: As explained in Section 51 of the Customs and Border Control Act, rates are laid down in Schedule 3 to the Act, and are applicable only to goods arriving by air.
15. Warehouse Fees: Rates, applicable only at airports, are laid down in the Government Warehouse Regulations. Fees and storage charges should be shown separately.