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FCA reviews GCC customs levy

The board of directors of the Federal Customs Authority (FCA) reviewed the proposed mechanism for distribution of customs revenues as part of the GCC Customs Union.
The meeting, held under the chairmanship of Obaid Humaid Al Tayer, UAE Minister of State for Financial Affairs and chairman of the board, was held in the presence of representatives of the Ministries of Economy and Finance, Interior and Environment, the Supreme Council for National Security, the local customs administrations and the private sector.
It discussed the latest developments on the GCC Customs Union and the FCA's performance.
The board reviewed the initiative proposed by the UAE to GCC countries to implement the second phase of the mechanism of automatic transfer of customs duties.
The UAE's initiative in this area aims to support the requirements of the completion of the Customs Union by facilitating the flow of goods between GCC countries and prevent the duplication of customs procedures in intra-ports, which helps reduce customs clearance time.
This mechanism will also establish a common database among GCC countries, which supports the feeding of risk management systems in the customs administrations with the consignment's details before its arrival, and contributes to speed up customs procedures.
The board was given an update on the latest developments in the GCC Customs Union in light of the recent meeting of the Customs Union Committee.
It discussed developments to complete the Union requirements in order to achieve the full implementation of the GCC Customs Union.
The board also discussed amendments proposed by the UAE on the Common Customs Law of GCC countries and its executive regulations in light of the developments and challenges facing the movement of trade, to enable customs administrations in GCC countries to meet local and international obligations and do their part in protecting the community security and facilitating trade.
The board reviewed the memorandum on the results of the performance of the strategic and operational plan for the first half of this year. It was briefed on the procedures and preparations carried out by the Committee in the framework of the preparation of the Strategic Plan for the period of 2017 to 2021.
Meanwhile, the board was informed of the implementation of the current strategy which confirmed that the Committee exceeded the target in achieving operational initiatives and projects within 'Injaz' system during the first half of this year, i.e. achieving 60.5 per cent instead of the target of the initiatives being 55.9 per cent by the end of June 2015.
The board also reviewed the measures taken by the Committee to promote a culture of innovation within the framework of the national strategy for innovation.
- haseeb@khaleejtimes.com

• Abu Dhabi