The joint operation between the Inland Revenue (IRD) and the Customs and Exercise of the Ministry of Finance and Treasury has been activated as of 27 March 2017.
The Minister of Finance and Treasury, Hon Snyder Rini in an official statement this evening says that the Joint Operation has been activated following intelligence reports and recent interception of smuggled, under declared and undervalued imports.
“These practices do not only cost the nation significant amount of revenue loss, they also represent serious breaches on the Customs Act and the Tax Act. Businesses houses and importers are therefore warned to honestly declare and value their imports.
“The Customs Act and the Tax Act have wide powers and it is more than likely the importers who choose not to comply will be required to pay all taxes including penalty, and forfeiting of goods,” he says.
The operation will carry out full physical examination of containers of imports based on a Risk Management Strategy that identifies high risk importers, risky country of origin and on a number of selection features within ASYCUDA (Automated System for Customs Data).
Whilst examination is carried out to ensure compliance, the team will also ensure that their role in facilitating trade is not compromised.
Minister Rini says examination process of this magnitude is very challenging, but with the dedication of officials, team leader and advisor who have been assigned to manage the operation, his Ministry is confident that the objective of ensuring compliance to duties and tax payable to the crown is achieved.
The operation will be manned by an advisor, six staff from IRD and six staff from Customs and Excise including their respective team leaders.