Customs compliance is a term often ignored by businesses involved in international trade. It essentially means to understand and fulfil all the requirements related to the execution of an international trade transaction. In order to be “customs compliant”, a trader must be sure that the tariff classification, origin and valuation of goods are accurately declared in accordance with legislative and regulatory requirements, and that the appropriate duties and taxes are paid. Additionally, an essential part of customs compliance is to ensure that all import requirements are met, such as having the appropriate import license or permit, as well as all the authorisations or certificates required by Customs and other cross-border regulatory agencies in connection with the prospected operation. Failure to meet such requirements can lead to penalties, extra fees or even to the revocation of authorizations or facilitations granted by Customs.

Read more...

Kenya is placed in a key strategic position in the East and Central Africa region, being the gateway to the Great Lakes countries and hosting an important part of the Northern Corridor that commences in Mombasa and ends in the Democratic Republic of Congo. Hence, efficient customs clearance processes and trade logistics activities in Kenya translate into reduced cost for imported, exported or transit goods and into enhanced competitiveness and economic prosperity of the entire region.

A study from the International Finance Corporation (IFC) examines the impact of the Kenya National Electronic Single Window in terms of efficiency of cargo clearance procedures.

Read more...