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Determing customs value of goods simplified

Posted by the Editor on January 22, 2014


News / 22 January 2014 | 12:38

Determing customs value of goods simplified

Determing customs value of goods simplified

At the request of importers, the Ministry of Revenues and Duties has  developing a bill to simplify procedures for determination of the customs value of goods. Adoption of the bill and its harmonious operation will indicate trust between business and government, the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine informs.
Due to the transfer of procedure for determination of the customs value of goods imported to Ukraine to post-audit, the Ministry of Revenues and Duties plans to simplify and greatly reduce the customs clearance duration. It needs to be noted that, according to the norms adopted in June 2012, the Customs Office has the right to check the subjects of foreign economic activity (FEA) during three years after the procedures of the customs clearance of goods. In addition to deferring of price determination to a later date, a higher liability of FEA subjects will be established in the document prepared by the ministry. In the near future the bill will be submitted for public discussion.
“We understand that today the procedure of checking the declared customs value takes too much time, so we try to make it faster by transferring it to the post-audit stage. But at the same time the liability of business for violation of the rules for declaration of customs value will be increased. Importers themselves came to us with this proposal, therefore adoption of this law will certify the trust between the Ministry and the business,” Oleksandr Klimenko, Minister of Revenues and Duties, said during a meeting with the former and incumbent presidents of the American Chamber of Commerce Jorge Zukoski and Bernard Casey.

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