The Central Bank of Solomon Islands announces it will no longer require importers to submit a declaration certificate for goods purchased on credit effective tomorrow, 10th February 2016.
CBSI says importers can proceed directly to the Solomon Islands Customs Division for clearing their goods without the need for an Exchange Control Declaration form from the CBSI.
It adds this change is a result of the successful implementation of the new Solomon Islands Customs ASYCUDA system which came into operation in 2015.
The statement quoted CBSI as saying when importers apply under Exchange Control to pay for their imported goods for amounts above $1,000 they only need to attach the stamped original ASYCUDA C99 form with their application.
The ASYCUDA C99 form is adequate confirmation of the cost of the goods for settlement.
CBSI believes that the removal of the declaration form will speed up the clearing process for goods purchased on credit and reduce the cost of doing business in the country.
CBSI acknowledges the continuous support and compliance by importers with the Exchange Control Act (1977) and Regulations.