Foreign Trade Barter Agreements / Barter Passport / 180 Days Rule

(Tax News Reporter - Week Ended 3 September 1996)

Every barter agreement with a foreign partner must now contain some mandatory information. An instruction will be drafted to issue a barter passport (similar to the import passport) for each barter agreement to confirm that import has actually taken place and that the value of the import is in proportion with the value of the exported items. Barter agreements under which the obligation to contribute or the right to receive goods or services is deferred for more than 180 days will require a document from the Ministry of Foreign Economic Affairs with the conclusion regarding circumstances which caused the delay.

Presidential Decree of 18 August 1996 No. 1209

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