Section 18: Funds of the Service

1 Subject to extant laws and regulations, the Service shall keep and maintain bank accounts as may be approved by appropriate authority of the Government into which shall be paid -
a not less than 4% percent of the free-on-board value of imports according to international best practices;
b revenues derived from assessment and collection of cost-based user fees;
c annual or supplementary budgetary provisions made by the Government to the Service; and
d grants, aids, or donations from local or international development partners.

2 The President may propose an increase to the 4% referred to in subsection 1 (a) to the National Assembly under cogent and verifiable factors from the Service.

3 A proposal for the increase referred to in subsection (2), shall be determined by the Board subject to approval by the President.

4 The user fee referred to in subsection (1) (b) shall be determined by the Board and approved by the Government.

5 The tariff regime to be used by the Service or duty, and excise computations shall be determined by the Board and published in the tariff handbook and website subject to approval by the National Assembly.

6 Notwithstanding anything to the contrary contained in any law or enactment, the Service, shall be empowered, subject to the provisions of this Act, for the purpose and objective of promoting stability and continuity in revenue generation, trade facilitation and economic development of the Government -
a have power to superintend and execute as it may deem necessary approved capital expenditure of each project that its cost not exceeding 10% of the total approved capital projects within the Appropriation or Supplementary Appropriation Act for the year;
b in exercise of the power conferred on the Service paragraph (a), the Service shall have power to procure materials and services, incidental to the execution of the capital expenditure stipulated under paragraph (a); and
c for the purpose of giving effect to the provisions of this section, the Service may borrow such amount of money within 10% of its approved capital expenditure within the Appropriation or Supplementary Act, subject to the approval of the President.