Global

Details

  • Service: Tax, Global Indirect Tax
  • Type: Regulatory update
  • Date: 8/21/2014

EU - Customs risk-management strategy, action plan 

August 21: The European Commission today adopted a new strategy and detailed action plan to improve customs risk management.

Goals

As noted in today’s EC release, robust customs risk management is essential to protect the safety and security of the EU and its citizens, the interests of legitimate traders and EU financial interests, while at the same time enabling the smooth flow of trade.


The new strategy is intended to identify and supervise supply chain risks, and identify key priorities where action is needed in order to achieve more effective and efficient EU-wide customs risk management. Each priority in turn is developed in the action plan, in terms of actions to be taken and deliverables to be achieved.

Strategy to improve customs risk management

The main priorities in the strategy and action plan for improving customs risk management are:


  • Efficient controls and risk-mitigation
  • Data quality (IT systems for processing entry summary declarations)
  • Information sharing
  • Interagency cooperation
  • Cooperation with traders
  • Capacity building
  • International customs cooperation



©2014 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.


The KPMG logo and name are trademarks of KPMG International.


KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever.


The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.


Direct comments, including requests for subscriptions, to us-kpmgwnt@kpmg.com.
For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at:

+ 1 202 533 4366

1801 K Street NW
Washington, DC 20006.

 

Share this

Share this

Subscribe

Subscribe to receive the latest TaxNewsFlash email alerts (you must select the option for TaxNewsFlash)


Already a Subscriber? Login


Not a member? Subscribe now