Customs Union to adopt deferred customs valuation procedure

MOSCOW, 1 October (BelTA) - There are plans to introduce a procedure of deferred customs valuation in the Customs Union. A relevant draft resolution has been published on the website of the Eurasian Economic Commission (EEC), BelTA has learnt.

The need for such a document is attributed to a number of situations when it is impossible to carry out precise customs valuation due to the lack of full information. Such situations require mechanisms to allow determining the customs value based on the value of the transaction to import the goods without additional expenditures connected with its confirmation. This should not adversely affect the level and effectiveness of customs control either.

The draft resolution is designed to optimize and quicken customs operations and improve the effectiveness of customs control. The document stipulates the introduction of the mechanism of deferred customs valuation of declared goods. It spells out when such mechanism can be applied, for example when there are no documents which can help determine the precise value of the imported goods on the date of registration of the customs declaration. Such a mechanism will allow postponing customs valuation for the time needed for obtaining precise information, and correcting customs value inside the effective period of the procedure without paying fines.

This procedure will be also applied when there is no precise information about license fees and other similar fees subjected to the inclusion in the customs value of the imported goods on the date of registration of the declaration.

The EEC notes that when working on the draft the experts faced some difficulties related to the description of the deferred customs valuation procedure. In particular, they underlined the need to further discuss the calculation, payment and recording of license fees and similar fees with business communities. That is why the EEC has given everyone interested the opportunity to voice their remarks and suggestions concerning this document on their official website.