What this does: This order removes a previous tax break (called a tariff concession) on specific industrial equipment.
Who it affects: Companies importing steel cord conveyor belting (heavy-duty rubber belts used in mining and bulk material handling) that is wider than 1,395 millimetres.
What changes:
- Previously: These goods could be imported under Tariff Concession Order 0603141 without paying customs duty (or at a reduced rate).
- Now: The concession is cancelled. Importers must pay standard customs duties on these goods.
Key details:
- Goods affected: Steel cord conveyor belts classified under tariff code 4010.11.00
- When it takes effect: 6 February 2008
- Legal basis: Section 269SC of the Customs Act 1901
Why it matters: This increases costs for businesses that rely on these specific wide conveyor belts, typically used in mining operations and large-scale manufacturing.