Board of Customs and Excise

The government department responsible for collecting and administering customs and excise duties and value added tax. The Commissioners of Customs were first appointed in 1671 by Charles II; the Excise department, formerly part of the Inland Revenue Department, was merged with the Customs in 1909. The Customs and Excise have an investigation division responsible for preventing and detecting evasions of revenue laws and for enforcing restrictions on the importation of certain goods (e.g. arms, drugs, etc.). Their statistical office compiles overseas trade statistics from customs import and export documents. In September 2004 the Board merged with the Board of Inland Revenue, thereby bringing it under the direct control of the Treasury.

Accounting dictionary. 2014.

Look at other dictionaries:

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