# Taxation (No. 2) Act 1695, Section V: Security for Duties on Tobacco to be by Bond and Sureties.


Discount for prompt Payment of Duty; No Discount after 15 Months; Allowance for Waste and Shrinkage; How Security discharged; Allowance for Waste on Tobacco exported; Oath on Debenture.
And whereas the Methods prescribed by the said recited Act granting the said Duties upon Tobacco made in the First Yeare of the late King James the Second have been found prejudicial to Trade and grievous to the Merchants concerned in paying the same Therefore for the more easie and better Collection of the said Duties for the future Bee it enacted by the Authority aforesaid That the Security to bee given for the said Duties upon Tobacco bee by Bond to bee given by the Importer thereof with one or more sufficient Sureties for Payment of the Dutie att the End of Eighteen Months from the Importation and that there bee a Discount of Ten per Cent[um] for prompt Payment of the said Impost Duty if the same shall bee paid within Three Months from the Date of the Entry and of Eight per Cent[um] att any time afterwards within Six Months from the same of Six per Cent[um] if within Nine Months of Foure per Cent[um] if within Twelve Months of Two perCent if within Fifteene Months But after Fifteene Months expired there shall bee noe Discount att all That on any Payment of the said Duty for Tobacco to bee consumed here there bee an Allowance for the future of Eight pounds per Cent[um] for the Merchants Encouragement in Consideration of Waste and Shrinkage in the Cellars That the Security given by the Importers for Eighteen Months bee discharged by Debentures referring to the particular Entries on Exportations att any time within Twelve Months from the Importation and not after that time That there shall bee an Allowance of Foure Pounds perCent[um] in Consideration of Waste that may arise on any Tobacco soe exported to bee struck off onely from the Entry and not to bee paid where the whole Quantity entred shall happen to bee exported That the Debentures for halfe Subsidy additional and impost Duties of the same Quantity of Tobacco exported bee on one or more Parchment or Parchments and that the Oath bee printed thereon in hec verba to bee signed and sworn by the Exporters That all the Tobacco entred and shipped as there certified is really and truely exported for Parts beyond the Seas on his owne Account (if hee acts for himselfe) or if hee acts by Commission then on the Account of such Person or Persons for whom the Deponent acts in the Direction of the Voyage and that none of the said Tobacco has been since landed or is intended to bee re-landed in England Wales or Towne of Berwick upon Tweed.

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Source: https://www.legislation.gov.uk/aep/Will3/7-8/10/section/V (the official version)
Page: https://openlegislation.uk/taxation-no-2-act-1695/section-V
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.