Sri Lanka proposes mechanism to settle disputes on valuation of imported goods
Sri Lanka's Finance Minister Ravi Karunanayake revealing the interim budget said Sri Lanka’s Customs service will work round – the –clock in order to improve the service offered to the people and the improve island’s trade efficiency,
"In an endeavor to improve the service offered to the people of Sri Lanka, the Sri Lanka Customs will extend their services on a round the clock basis", Karunanayake said, presenting the interim budget 2015 in parliament Thursday.
The Minister also suggested to install sophisticated scanning mechanism at all entry points of the Customs office and the scanning containers would made mandatory from 1st of September 2015
"In the recent past, high slippage of ethanol, drugs and other high valued items had prevailed," Karunanayake said.
As a measure of harmony to facilitate the dispute settlement of between the importers and the Customs officials in arriving at a final decision on the value of goods imported, the minister announced the appointment of a Valuation Review Committee. This committee will consists of two representatives nominated by Sri Lanka Customs, two from the State Audit Dept., and one member each from the accounting profession, the legal profession and a member nominated by the Chamber of Commerce.
Dispute between the importers and the Customs is a common occurrence as the Customs in most of the occasion refuses to accept the declared value of the goods though the law required the Customs to accept the declared value as accepted.
The minister said that the mechanism for the committee to operate will be duly informed
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