Part ICustoms Tariff Harmonisation

1 Harmonised Rates of Duty

(1)The duties of customs and excise levied upon spirits, wines, tobacco, and merchandise imported into the Isle of Man shall be equal to the duties levied in the United Kingdom.

(2)Tynwald may by resolution vary any duty in accordance with the terms of the Common Purse Agreement.

Part IIRevenue Apportionment

2 The Common Purse Account

(1)All customs duties collected shall be accounted for under the Common Purse arrangements administered jointly with the Commissioners of Customs and Excise.

(2)The net proceeds attributable to the Island shall be paid into the General Revenue of the Isle of Man upon a fiscal calculation approved by Tynwald.

Part IIIGeneral

3 Citation

This Act may be cited as the Tynwald Customs and Common Purse Act.