Malta Chamber of SMEs launches a guide to local Black Friday offers
23 November 2020
MALTA CHAMBER OF SMES LAUNCHES A SPECIAL BLACK FRIDAY, THAT IS SENSITIVE TO THE DELICATE...
GRTU has raised an issue with the Director General of Customs and the Commissioner for Inland Revenue related to sudden change in procedures implemented by Customs which has negatively affected enterprises, especially those importing goods from outside the EU and subject to pay duty charges.
Customs explained to the GRTU that they found themselves in a position where certain cheques were not being honoured and currently the law does not give customs effective ways to seek redress, because customs would have already released the goods, and the liability falls on the cashier that would have accepted the cheque in question. A recent such case has led to Customs changing policy with immediate effect to one where they will no longer accept cheques that are not backed by a bank guarantee and where the payment is required for the immediate release of the goods.
A number of other payment options are possible but these include cash, which presents its own risk and when the goods are released to a cargo haulier (burdnar) and it is not advisable for the cargo haulier to run around with such cash, as well as cheques and differed payments but these have to be backed by a guarantee. GRTU feels the options pose an additional cost and bureaucratic burden on enterprises, especially the smaller enterprises.
GRTU has insisted with Customs that they should start accepting electronic payments and will be presenting a set of proposals as to how the GRTU feels the Act regulating such instances, which is currently limiting us from enacting alternative measures, be amended.
The Malta Chamber of SMEs represents over 7,000 members from over 90 different sectors which in their majority are either small or medium sized companies, and such issues like the one we're experiencing right now, it's important to be united. Malta Chamber of SMEs offers a number of different services tailored to its members' individual requirements' and necessities. These range from general services offered to all members to more individual & bespoke services catered for specific requirements.
A membership with Malta Chamber of SMEs will guarantee that you are constantly updated and informed with different opportunities which will directly benefit your business and help you grow. It also entails you to a number of services which in their majority are free of charge and offered exclusively to its members (in their majority all free of charge).