Customs officials study instructions on advance ruling
Customs officials study instructions on advance ruling
High level officials from the Ministry of Finance's Customs Department and concerned sectors met this week to discuss the draft instructions on advance ruling to facilitate export-import procedures.
This new approach is designed to assist brokers, transport companies, importers and exporters in the preparation of customs documentation for the movement of goods in and out of the country.
It also gives these concerned groups an overview of the harmonised system for the classification of goods and the methods to be used for valuing goods based on a set valuation system.
The draft instructions on advance ruling will also help to speed up the procedures at border crossings. Speaking during the meeting, the department's Director of the Customs Clearance Division, Mr VongkhamhaengVongthachack, said that the draft instructions on advance ruling are very necessary for everybody to learn, especially the customs officials, in order to facilitate trade with the international community.
“They are also part of the procedures the country is required to establish as a member of the World Trade Organisation,” he said.
“Advance rulings will enable foreign investors to know, with certainty and well in advance, the customs duty liability on proposed imports and exports into and out of the country.”
Mr Vongkhamhaeng said the draft instructions on advance ruling will be issued in the form of booklets for customs officials to use in their work.
The advance ruling scheme will also make it easier for a non-resident investor to set up a joint venture in the country in collaboration with either a resident or a non-resident.
This was the second time that a meeting on this subject has been held and the department plans to conduct more of such meetings in the near future.
At the end of the meeting, Mr Vongkhamhaeng encouraged the participants to discuss the subject matter and share ideas on related topics as well as learning from the trainer Ms Maria Gabriela, an expert with the department.
He also urged the participants to use what they have learned from Ms Gabriela to improve their work, especially in helping to develop human resources within the customs division.
The meeting was supported by the Customs and Trade Facilitation project.
vientiane times
