Arab Today, arab today uae officially implements automatic transfer system of customs duties between gcc countries
Last Updated : GMT 06:58:51
Arab Today, arab today
Arab Today, arab today

UAE officially implements automatic transfer system of customs duties between GCC countries

Arab Today, arab today

Arab Today, arab today UAE officially implements automatic transfer system of customs duties between GCC countries

Director Mohammed Jumaa Buosaiba
Abu Dhabi - WAM

Mohammed Jumaa Buosaiba, Director-General of the Federal Customs Authority, has said that the implementation of an electronic direct automatic transfer of customs duties system among GCC countries, or 'Tam' system, is one of the most important requirements for completing the GCC Customs Union, as it allows the exchange of information with more ease and accuracy than ever before.

Speaking at a press conference yesterday, Buosaiba commented on the official implementation of Phase II of the system, which began last October, saying that the Tam system supports the initiatives of trade facilitation and development between GCC countries, and promotes the competitiveness of the UAE in terms of customs efficiency by reducing the number of documents and procedures and saving time in the completion of work in ports with the GCC countries.

Direct intra-trade between the GCC countries between 2003 and end of June, 2015, reached Dh750 billion, and 11 thousand transactions valued at Dh 91 million have been processed in the 45 days since the implementation of the new Tam system.

The value of the duties transferred by the UAE to GCC countries reached Dh 8.5 billion, compared to 1.6 billion being the country's share in the framework of manual clearing.

The Tam system will transfer the manual clearing of customs duties between GCC countries to a direct automatic transfer system, reducing the time required for the transfer of customs duties to just one month, compared to a few months or even a year to audit, approve, and then manually transfer such duties in the past.

He said, "The system significantly contributes to minimising errors that may occur due to the manual input process. Individuals can take advantage of the Tam system for direct automated transfer of customs duties by the exemption of incoming shipments from GCC countries, and avoiding the recurrence of paying customs tax at the final destination of the commodity or goods."

He explained that the system prevents the repetition of customs procedures in intra-ports, thereby contributing to saving the time of customs clearance in intra-port. The system also helps create a shared database between GCC countries, which supports the entering of details of the goods before their arrival into the risk management systems of the customs departments. It contributes to speed up the customs procedures at the time of arrival of the goods.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today uae officially implements automatic transfer system of customs duties between gcc countries Arab Today, arab today uae officially implements automatic transfer system of customs duties between gcc countries

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today uae officially implements automatic transfer system of customs duties between gcc countries Arab Today, arab today uae officially implements automatic transfer system of customs duties between gcc countries

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
View News in Arabic - Business: اقتصاد عربي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday