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Jassim Mohammed Al Budaiwi reiterated the GCC's firm position supporting Palestinian people's right to self-determination and establishment of an independent state
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Dubai Customs adopts new method of valuation
DUBAI — The World Customs Organisation (WCO) has praised Dubai Customs' recent overhaul of practices which have considerably benefited the emirate's economy.
In the past one and a half years, the Valuation Department has achieved great strides after adopting new methods for customs valuation, in accordance with WCO standards.
The Valuation Database Project, which was implemented recently, aims at compiling and entering the prices of goods and commodities, including different kinds of vehicles and machineries, into a database enabling Dubai Customs to replace the traditional practice of price and values of searching by adopting an advanced electronic approach.
"It will assist in providing a uniform valuation system based on scientific bases and international standards. This project will prevent manipulation by some importers in understating the value of imported goods," said Aisha Majid bin Thaniya, senior manager in the Valuation Department of Dubai Customs.
"The application of these procedures showed the differences between the real customs values and the declared ones and accounted for a billion and a half dirhams," she said.
Bin Thaniya said the adoption of the new practices indicated the UAE's commitment to international agreements and standards.
She said the main objective lay in establishing solid bases for free international trading through cooperation among all the parties concerned.
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