Goods piling up at several border posts as duty is now indexed to the prevailing inter-bank rate.
The Customers, Clearing and Freight Forwarding Association said the recent move by the monetary authority to deregulate the foreign exchange market has seen goods piling up at several border posts as duty is now indexed to the prevailing inter-bank rate.
Multinationals are paying ``much more tax'' to resolve cross-border disputes, according to Revenue & Customs, as it highlighted its sharper focus on high-risk transactions.