In a significant move aimed at ensuring transparency and compliance, the National Revenue Authority (NRA) has announced its intention to intensify monitoring of declarations falling under the Tax and Duty Exemption Act of 2023, effective Monday, September 25, 2023.
Under Part (3) of the aforementioned Act, specific categories of Institutions, Persons, Organizations, and Diplomatic Missions are eligible for Duty Concessions at border crossing points within the country.
While the NRA remains committed to upholding the provisions of the law, it is equally dedicated to aligning its practices with global standards of trade facilitation and border management.
The notice noted thst as a facilitating institution, the NRA holds the responsibility of verifying the actual products against those listed in the application process approved by the Ministry of Finance.
According to NRA, recent observations have revealed significant disparities between declared products and the actual scanned products during processing. These discrepancies have imposed constraints on the institution’s operations, resulting in a loss of revenue meant for the state under the guise of duty exemptions.
In response to this issue, the Commissioner General has directed comprehensive inspections, including photo and video evidence, for all duty concessions, except those covered by the Vienna Convention.
This measure aims to accurately reflect the products declared by eligible beneficiaries. In cases where disparities are identified, the institution will seek to recover the custom duty value owed to the NRA, along with appropriate penalties.
The NRA emphasizes its commitment to maintaining fair and accountable practices in line with the Tax and Duty Exemption Act, ensuring that revenue exemptions serve their intended purpose without exploitation.
This move reflects the NRA’s dedication to responsible fiscal management and transparency.
