Seán Sherlock (Cork East, Labour) | Oireachtas source

I move amendment No. 36:

In page 41, after line 7, to insert the following:"Interest

50.Where any duties of customs which a person is liable to pay to the Commissioners are not so paid, simple interest on the amount shall be paid by the person to the Commissioners and such interest shall be calculated from the date on which the duties of customs became payable and at the rate specified in section 991(1)(d) of the Taxes Consolidation Act 1997.".

Amendment No. 36 inserts a new section in the Bill relating to the charging of interest on late payments of customs duties. The purpose of the new section is to provide for the rate of interest due on customs duties not paid by the date on which such duties became payable. The customs code already provides for the liability to interest charges on unpaid customs duty, but leaves the rate of such interest to be determined by the member state.