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Dominica To Adopt ASYCUDA Customs Platform

by Mike Godfrey, Tax-News.com, Washington

02 October 2014


Dominica is to adopt amendments to its Customs Act and introduce new customs duty administration software to reduce the cost for businesses of trading internationally and improve the territory's administrative of cross-border duties.

Dominica is to roll out ASYCUDA, a computerized customs management system developed by the United Nations Conference on Trade and Development (UNCTAD), which covers most foreign trade procedures. In particular, the system handles manifests and customs declarations, accounting procedures, transit, and suspense procedures. It was developed to support territories to efficiently assess and collect customs duties. It also speeds up the customs process by allowing manifests to be sent digitally in advance of arrival.

The amendment to the Customs Act will enable greater collaboration between the Customs Division and the Inland Revenue Division, on which a memorandum of understanding is to be signed between the two parties to formalize the terms of their working relationship.

Lastly, the customs process will be restructured to strengthen risk management and post-audit functions.

TAGS: tax | business | export duty | accounting | international financial centres (IFC) | audit | offshore | Dominica | import duty | trade

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