asked the Minister for Finance if he will eliminate the bank guarantee requirement in the payment of VAT on imports.
Written Answers. - VAT on Imports.
282.
Experience has shown that the bank guarantee is a vital element of the scheme for deferred payment of VAT on imports and consequently it is not proposed to eliminate it. However, the VAT on imports system is one of the issues which I will be examining in the course of my preparations for next year's budget and I will be reviewing the role of the bank guarantee requirement in that context.