(a) Every individual and every firm, corporation and other association, except those specifically exempted, who brings a container or flat rack container into the Territory, shall be assessed a tax of $50 on those containers that measure up to 39 feet in length and $100 on those containers that measure 40 feet or more in length, except that any transshipment or in-bond containers shall not be subject to this tax.
(b) Definitions — for the purposes of this section
(1) Containers are defined as large standard size metal boxes into which cargo is packed for shipment configured for oceangoing ships; and
(2) Flat rack containers are defined as containers with no sides or frames at the front or rear of the container.
(c) The tax shall be paid to the Bureau of Internal Revenue on forms provided by the Bureau, and shall be paid prior to the release of the containers by the cargo line or its agent.
(d) The provisions of this section shall be ministered by the Director of the Bureau of Internal Revenue based on regulations issued by the Bureau.
(e) The taxes collected by the Bureau of Internal Revenue shall be deposited into the General Fund of the Government of the Virgin Islands.