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Today’s Top Headlines




Gibraltar Yacht Clearance Further Simplified

by Amanda Banks, Tax-News.com, London

26 February 2013

The Gibraltar Government has announced a number of refinements to the Automated System for Customs Data (ASYCUDA) Yacht Portal that was implemented last year to simplify customs and immigration procedures in respect of visiting pleasure craft.

ASYCUDA is a computerized customs management system, developed by the United Nations Conference on Trade and Development (UNTCAD), which covers most foreign trade procedures. The system handles manifests and customs declarations, accounting procedures, transit and suspense procedures.

In the first three months since its roll out in Gibraltar, ASYCUDA has effectively managed over 700 pleasure craft and 5,000 passengers and crew. Yacht crews can submit all relevant information to authorities prior to arrival, cutting the amount of bureaucracy passengers must endure when arriving or departing from Gibraltar.

Gibraltar aims to enhance the system to more efficiently collect import duty on personal imports from passengers aboard pleasure craft. Among the new changes, the Government plans to introduce an electronic version of the new ASYCUDA Single Administrative Document (Customs Declaration) for the purpose of clearing commercial goods transiting aboard vessels arriving and departing from Gibraltar.

In addition, an electronic application for Export Licenses will also be introduced, which will substitute the current hard-copy forms and further improve the procedure for those concerned in the export of goods.

TAGS: tax | marine | Gibraltar | accounting | international financial centres (IFC) | tax authority | offshore | import duty | trade

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