Federal Board of Revenue - FBR’s Post

Colombia: Relief for Colombian importers The new customs framework brings important relief for Colombian importers. The decree issued in May aims to accelerate foreign trade in the country, strengthen measures to combat smuggling and increase security at the country's borders. Relevant changes for Colombian importers are also in focus.

The Nigeria Customs Service (NCS) has announced that Nigeria and Benin Republic have reached an agreement to implement a single-entry declaration form for border crossings between the two countries. This follows several bilateral discussions between leaders of both countries aimed at enhancing the smooth flow of trade and commerce between the two West African nations. The agreement also includes improvements of infrastructural cooperations between both nations that will lead to improved cross border trade. With this development, cross-border traders from both countries will now be required to use a single-entry declaration form. Both countries will also establish a joint border agency inspection for goods and persons which is going to be one-stop border post at the Segbana border. Cheers to the formalization of importation via Benin and I hope this includes food items, at least for now. Let the poor breathe. 🧘 #GodBlessNigeria #MayTinubuSucceed

Oceania Customs Organisation (OCO) Takes Action Against Undervaluation in Trade The OCO is leading a regional initiative to combat undervaluation in trade, a practice that negatively impacts revenue collection and fair competition in the Pacific region. Customs officers from ten member countries participated in a Week of Action to enhance their capacity to detect and prevent this harmful activity. This collaborative effort, led by the Australian Border Force (ABF) in partnership with the OCO Secretariat and supported by the New Zealand Customs Service, focuses on: - Leveraging trade data analysis to identify discrepancies - Implementing robust measures to address undervaluation - Promoting fair trade practices that benefit all Pacific nations "This operation underscores the value of regional cooperation in addressing common challenges faced by Pacific nations." – Uriah Turner, ABF. Read more: https://lnkd.in/gqZ4TSeR #internationaltrade #customscompliance #PacificRegion #OCO #ABF #NZCS

How will the upcoming changes at the Canada Border Services Agency (CBSA) impact businesses that import goods into Canada? Learn more about Release 2 of the CBSA Assessment and Revenue Management system (CARM R2) and the anticipated blackout period recently announced in Customs Notice 24-14 (CN24-14): https://shr.link/ivl29

Join ERS and SARS today at 10:00 AM, for the release of findings of the Time Release Study as a first step to facilitate the seamless flow of trade through Southern African Customs Union (SACU) borders. 🌏The World Customs Organisation (WCO) Time Release Study is a strategic and internationally recognised tool to measure the actual time required for the release and/or clearance of goods, from the time of arrival until the physical release of cargo. It aims to find bottlenecks in the trade flow and identity measures to improve the effectiveness and efficiency of border procedures. 🔗https://lnkd.in/dq53ET9J #ERS #TimeReleaseStudy #Customs

📙 Insightful Imports: Staying Updated on Ukrainian Export Regulations and Policies In the ever-changing world of international trade, staying up-to-date on export regulations is essential for successful business operations. Here’s how you can keep track of the latest developments in Ukraine’s export policies: 🗳️ Follow Government Announcements: Regulatory changes are often published by official entities like Ministry of Economy of Ukraine, State Customs Service of Ukraine and The Ministry of Foreign Affairs of Ukraine. Keep an eye on these updates for the latest information. 🤝🏻 Nazovni.online Platform: Our platform regularly shares news on regulatory updates and policy shifts that may impact Ukrainian exporters. Stay connected with us for real-time information. 💼 Embassy Insights: Ukrainian embassies abroad often provide market-specific updates on regulatory changes and market entry conditions. Subscribing to their newsletters is a great way to stay informed. 👥 Industry Associations: Joining industry-specific export associations can be a valuable resource for timely updates on regulation changes and requirements. If you have any questions or need guidance on the latest export regulations, feel free to reach out to us: https://nazovni.online/en. We’re here to help! #Import #ExportUkraine #InsightfulImports #Nazovni #UkrainianTrade #ExportRegulations #GlobalTrade

Trade between the two nations has been growing significantly since the disintegration of former Soviet Union in 1991. The Sri Lankan cabinet approved an agreement to facilitate legally valid trade activities with Russia through transparent, predictable customs procedures, according to a statement from the government’s information department. According to the department, although the approval was granted on November 15, 2021, to sign a bilateral agreement to provide facilities for legally valid trade activities through transparent and predictable customs procedures after a series of bilateral discussions between the Sri Lankan government and Russian government, it has not been signed, Xinhua news agency reported. follow us for more OnlineHyderabad.in #OnlineHyderabad #Hyderabad #hyderabadi #srilankarussiatrade #bilateraltrade #internationaltrade #tradeagreements #CustomsTransparency #tradegrowth #globaltrade #srilankaeconomy #russiaeconomy #traderelations #economicpartnership #globaleconomy

Can the #AfCFTA advance without cooperative practices among Customs? The #Abuja Treaty (1991) for the establishment of the African Economic Community recognizes the cooperation between African customs administrations as a key element for the correct functioning of the future Community, calling (Art. 39) for the development of a Protocol to define criteria and modalities for such cooperation. Despite this Protocol was never adopted, in 2004 the African Union decided to create a sub-committee of Directors General of Customs as a mechanism to facilitate the coordination among customs services in the continent. The creation of this committee was anticipated by a meeting of the Directors General of Customs of the AU member states held in 2003 in Johannesburg as part of the "All Africa Customs Conference" (AACC), in which for the first time discussions were held on how to improve cooperation practices among African Customs as part of advancing the continent’s economic integration process. Then, the AfCFTA came... Read more here: https://lnkd.in/d484ZR76

💡 The insights you need on the 'No Russia and Belarus Clause' 🚫

🔳 In February 2024, the Ministry of Finance of Ukraine approved an ambitious #Strategic Plan for the Digitalization of the State Customs Service, which is a step towards #modernizing and adapting the customs system to European #standards before Ukraine joins the #EuropeanUnion. 🔳This is not only a strategic step for #Ukraine in the context of European #integration, but also an important component of the Ukraine Plan, which was #supported by the #UkraineFacility. The approval of this #plan opens up the possibility of receiving budgetary support in the amount of approximately EUR 4 billion, which will be used to #reform and modernize Ukraine's customs system. 🔳The main changes envisaged by the Strategic Plan for the Digitalization of the State Customs Service include:  -#development and adaptation of customs IT tools to optimize the exchange of information between #businesses and customs; -Ensuring ##security; -Information preservation; 🔳 This includes the completion of the development of the automated customs clearance system "Center" and the implementation of a #system of solutions aimed at improving the work of customs authorities and increasing the efficiency of customs control processes. 🔳The Strategic Plan also takes into account the fight against #corruption and fraud through the implementation of anti-corruption measures and data security. #management #economy  #strategy  #technology #investing #partnerships  #StandWithUkraine #innovation  #future