260 - 08/02 - Custom Fines - Syria
Bulletin 168 (12/00) advised that the Minister of Finance in Syria had decided to reduce the rate of settlement of customs contraventions from 25% to 10% of the volume of the goods.
The old basis of settlement of Syrian customs fines - 25% of the value of shortage/ excess of cargo plus customs dues divided by 46 to reach a figure in USD - has now been changed.
The new formula was issued by the Minister of Finance on the 18th June and we understand has been implemented by the Lattakia customs authority from the 24th July and the Tartous Customs authority from 11th July.
The new formula = (Value of shortage/Excess +Customs duty) x 10% (previously 25%).
The US$ exchange rate varies between 46 and 46.5 Syrian pounds. Interestingly we are advised that at present the Lattakia Customs authorities are using a figure of 46.5 the Tartous Customs authorities 46.
Source of information: Loss Prevention Dept