The International Monetary Fund (IMF) presented this Tuesday (21.06.2022/XNUMX/XNUMX) “Customs Matters: Strengthening Customs Administration in a Changing World”, a publication on the need to strengthen customs administration in all countries to ensure an inclusive and sustainable recovery.
The Managing Director of the IMF, Kristalina Georgieva, indicated at the opening that “Customs administration is one of the most important institutions”. He explained that “its main responsibility is to apply the rules that guide international trade, as well as to administer procedures for trade facilitation.” He also highlighted its role in tax collection, especially in some countries where duties and taxes on imports represent almost 40% of tax revenues.
Georgieva referred to trade security: “Efficient customs administration helps in tasks such as combating money laundering and terrorist financing, in preventing illicit trafficking.” She explained that the role of customs has expanded to take on economic and social dimensions; assistance involves addressing global challenges such as fighting the pandemic or natural disasters and facilitating global supply chains.
With this in mind, customs administrations around the world are faced with new challenges: an ever-increasing volume of international trade, a revolution in new technologies and fundamental changes in business models.
In this context, Georgieva called on customs administrations to be assisted in adapting to the challenges to ensure the resilience of essential institutions and a sustainable recovery.
The IMF book is aimed at policymakers, with the aim of helping them to meet these challenges and to develop or strengthen their road maps for customs modernization and reform.
The initiative is part of the IMF's capacity-building efforts to build effective policies and institutions in countries.
Katherine Baer, Deputy Director of the Fiscal Affairs Department of the IMF, commented on the seven chapters of the publication:
- Chapter 1 is an overview of the multifaceted role of customs, its importance to the economy and society, and its evolution to its current role.
- Chapter 2 examines the impact of trade and tax policies on customs, highlighting how these policies have shaped the customs response to the supply chain.
- Chapter 3 demonstrates how countries need to facilitate trade. It provides an introduction to the institutional and professional basis of customs administration. It presents customs reform and modernisation, legislative and regulatory frameworks, learning and development, and good governance and accountability. It includes practical examples to help customs administrations develop their own key performance indicators.
- Chapter 4 addresses the challenges of increased trade facilitation and the role of customs in supporting a trade-friendly national economy. A roadmap is provided for customs administrations to become more transparent, with simplified, harmonized and standardized processes to make them more trade-friendly.
- Chapter 5 examines strengthening core customs processes through risk management and explains how its practice has many benefits, both from an enforcement and trade facilitation perspective. It includes practical guidance to help customs administrations identify control gaps.
- Chapter 6 examines strategies to strengthen Customs' critical law enforcement function, with an emphasis on the value of information and information sharing.
- Finally, Chapter 7 looks at emerging technology and how it can be used to improve customs performance.
The publication was launched at a global event, in hybrid format, moderated by Andrea Lemgruber, Head of Revenue Administration in the Fiscal Affairs Department of the IMF.
The presentation also included a panel discussion with the participation of Konstantinos Kaiopoulos, Director of Tariff and Trade Affairs at the World Customs Organization (WCO); also spoke Julio Fernandez Fruits, Director General of Customs of Paraguay, and Caroline Freund, Dean of the School of Global Policy and Strategy at the University of San Diego (California, United States).
The message of closure was in charge of Vitor Gaspar, Director of the Fiscal Affairs Department of the IMF. (Publication «Customs Matters: Strengthening Customs Administration in a Changing World") (Launch event)
Aduana News is the first Argentine customs newspaper to launch its digital version. With 20 years of experience, its publications and initiatives aim to provide the most relevant knowledge on customs issues in order to contribute to safe trade in the region.
