Articles under "#revenue" category

Issue: WCO News 86

More WCO tools to assist revenue collection to be launched soon

The WCO’s Revenue Package (RP) is nearing the completion of its third phase, which will see the launch in June 2018 of a number of new tools and material for Customs administrations.

The motto of the RP is “fair and efficient revenue collection,” the objective being to strengthen the...

An understanding of trade facilitation measures is also a key consideration. Facilitating the trade of compliant businesses is in fact compatible with the goal of effective revenue collection. By using risk management techniques to determine the compliance levels of individual businesses, Customs...

Issue: WCO News 77

Update on the WCO Revenue Package

New tools have recently been developed as part of the WCO’s Revenue Package, which collates all material relevant to improving revenue collection and compliance levels.

Diagnostic Tool on Tariff Classification, Valuation and Origin Work and...

Issue: WCO News 100 – Issue 1 / 2023

To read: WCO Trendspotter Study on Customs-Related Commercial Fraud

The WCO has published its first Trendspotter Study, with the aim of identifying trends in commercial fraud involving trade in goods. The Study was written by a project team with the assistance of experts from Customs administrations, and was funded by Korea Customs.

The Trends...

 

Certain areas – essentially because they are addressed at the WCO in the context of specific programmes and working bodies – were excluded from the scope of the Study: excise goods such as tobacco and alcohol products; illicit trade; transfer pricing; and money laundering. Howev...

Issue: WCO News 100 – Issue 1 / 2023

WCO Secretariat develops a dashboard for PCA

Post-clearance audit (PCA) includes a preparation phase during which data from various sources is collected and then analysed, especially import and export declaration data. The aim is to obtain a comprehensive overview of the auditee’s business structure and, on this basis, identify and analys...

At the WCO Secretariat, a modest three-person team decided to take up this matter and to develop a prototype dashboard using Microsoft Power BI. Launched nearly a decade ago as a standalone desktop data visualization tool, Power BI is now a business analytics service provided by Microsoft that en...

Issue: WCO News 90 October 2019

Tariff and Trade Affairs

WCO Revenue Package and advance rulings

The WCO continued to assist its Members in implementing the Revenue Package, which provides guidance and best practices for improving the efficiency and effectiveness of revenue collection, as well ...

Nomenclature and classification

The WCO continued to carry out its work on the uniform application of the Harmonized System (HS), with the adoption of numerous classification decisions and intensified capacity building ef...

Technical assistance

Capacity building activities included the organization of eight training workshops:

  • In Sri Lanka, WCO Secretariat staff partnered with the WTO to deliver presentations related to the operational aspect...

Issue: WCO News 88

Australia’s Vendor Collection Model explained

The growth of e-commerce has contributed to significant increases in the volumes of goods crossing Australia’s borders. Between 2013 and 2016, the volume of inbound air cargo and international mail parcels increased by 57%. Between 2017 and 2021, Australia expects a 30% year-on-year growth in a...

What other models were considered?

Australia considered alternatives to this model, including:

  • the traditional or border collection model, which is the current model for collecting GST, Customs duties and oth...

Issue: WCO News 99- Issue 3 / 2022

Bahamas Customs takes huge leap forward on recouping lost and evaded revenue

Through the use of AI analytics, Bahamas has identified over 115 million USD in evaded revenue since 2020, while simultaneously modernizing its revenue collection management capabilities.

In 2020, Bahamas Customs began seeking solutions to help iden...

...

How the Solution Works

The technology selected by Bahamas is deployed as a service under a subscription license. Called the “Risk Assessment Screening Service (RASS)”, the solution uses a combination of deduc...

Issue: WCO News 96 October 2021

Governments should consider waiving taxes on transport costs until we are back to “normal”

The exponential increase in transport costs over the past few months has placed a strain on importers and on economic recovery. One solution would be for governments to waive taxes on these costs. In Israel, the law already allows for such an exemption in the case ...

CIF and FOB

The increase in transport costs has led to an increase in the value of goods for Customs purposes in countries levying taxes on the CIF (cost, insurance, freight) value, rather than on the FOB (free on board) ...

Issue: WCO News 91 February 2020

Illegal logging under the microscope

The global demand for timber, and its products, is only partly being met from legal sources. According to a 2012

Legal framework

One of the key global agreements is the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) that came into force in 1975. CITES, which has 183 signature countries, aims ...

Organizations such as the WCO, working with its partners like INTERPOL, are investing a great deal in fostering collaboration among Customs administrations and relevant enforcement bodies to curb the illicit trade in various commodities, including through enforcement operations. One of these,

Results and remaining challenges

Data collected by the UNEP’s World Conservation Monitoring Centre...

Issue: WCO News 77

Mexico launches new strategy to combat informality

With a view to achieving its maximum potential, Mexico recently launched a historic set of structural reforms aimed primarily at increasing productivity. To support these necessary programmes, actions and investments, the Government outlined a strategy to strengthe...

Challenges

Significant challenges remain. Chief among these are overcoming resistance to change, combating a paternalistic culture, educating new generations to become responsible taxpayers and, more generally, putting me...

Issue: WCO News 92 June 2020

Evolution of data analysis at Dominican Customs

Talking about competitiveness, effectiveness, quality control, risk management, and compliance is meaningless if we do not talk as well about access to technology and data analysis tools, including the need for trained personnel who are able to develop and manage these very tools.

At the G...

Purpose

Every organization needs a purpose, a well-defined north, a shared vision capable of igniting the spark and keeping the organization moving. The five general objectives of the DGA Strategic Plan state that Customs...

Issue: WCO News 78

E-commerce and revenue collection

Many countries have seen a significant and rapid growth in the volume of low-value imports of physical goods on which duties and taxes are not collected. There are growing concerns about matters related to potential revenue loss, fraud, and the disadvantages experi...

Issue: WCO News 78

Supporting e-commerce: Korea Customs Service’s strategy

Cross-border e-commerce is increasing sharply in Korea. This is not surprising given that the country ranked No.1 in the world in terms of Internet connection speed at the beginning of 2015, and that the Korean economy is extremely dependent on foreign trade. Howev...

Issue: WCO News 77

Ecuador undertakes a mirror analysis

How do we discover new fraud? On what basis and on which data do we rely in deciding when to investigate certain commodities or trade flows rather than others? Chance, intuition, experience and intelligence are useful, but can we complement them using a more object...

Issue: WCO News 78

Australia’s tax reforms and e-commerce: a country perspective

The rapid growth in e-commerce has facilitated Australia’s increasing domestic appetite for Internet-based trading and online shopping. Although recent online growth has been more subdued than the 20-30% annual growth rates recorded in earlier years, it is expected that growth will continue and...

Issue: WCO News 79

Addressing the misuse of Customs valuation databases

Just two years ago, economists widely predicted that global trade flows would grow by 7% in 2015. The reality – as shown by new World Bank data released just a few weeks ago – is that they barely grew at all, with several countries seeing sizable drops in trade over the past 12 months.

Issue: WCO News 91 February 2020

How Machine Learning Can Automate the Determination of the Valuation of Goods

Machine learning, i.e. the process of teaching a computer system how to make accurate predictions when fed data, can help Customs administrations to identify revenue fraud or other illegal activities. In this article, TTEK, a technology solutions firm, explains how...

At the time of writing, there are 164 countries that are members of the WTO; the most recent addition being Afghanistan in July 2016. In addition, several other countries have chosen voluntarily to adopt the Agreement as the basis for determining Customs value. To meet the terms of their internat...

Issue: WCO News 102 – Issue 3 / 2023

Elevating partnerships between Customs brokers and Customs authorities – the way forward

One of the benefits of being a Customs broker[1] providing services at the international level is experiencing the flexibility and efficiency of many Customs authorities. One of the challenges is dealing with inconsistencies in ...

Adaptability

Central to everything they do are Customs authorities, as any changes in Customs legislation and processes impact them. One of the clear recent examples is Br...

When co-operation succeeds and excels

War is still sadly with us in many parts of the world. Regardless of which side people are on, one of the common challenges is arrang...