6.4. Computer software (Import Payments)

6.4.1 Importation of computer software, local reproduction of computer software packages and maintenance

Business entities may import computer software and specific custom-made computer software products, including any licence fees which may be payable, against the production of documentary evidence confirming the purpose and amount payable. The payments must be effected via an Authorised Dealer. In addition, payment may be made in respect of software, which is downloaded via the Internet against documentary evidence confirming the purpose and amount payable.

6.4.2 Royalty payments to non-residents, including any licence fees that are payable from the local reproduction or copying of computer software packages may be effected provided that:

(a) the licensor is an unrelated party (i.e. none of the parties have any direct and/or indirect interest or shareholding in each other); and

(b) the application is accompanied by documentary evidence confirming the purpose and amount payable.

Where applicable minimum payments, advance payments and down payments are permissible, provided that the advance payments and down payments are recoupable from future royalties or fees payable.

Payment of percentage based fees are permissible provided that the client confirms it is normal in the trade concerned.

Maintenance payments applicable to computer software packages, in advance and/or retrospectively, against documentary evidence confirming the purpose and amount payable may be effected.

6.4.3 Extension of agreements previously authorised must be referred to an Authorised Dealer for approval.