Importers and exporters will benefit from a new system put in place by the the Kenya Revenue Authority’s Customs Services Department.
Dubbed ‘Authorized Economic Operators’, it gives operators preferential treatment in the processing of transactions.
According to KRA southern region senior assistant commissioner Fatma Yusuf, players must be compliant with the Kenya Revenue Authority procedures to be enlisted.
Players will benefit from minimal checks of their cargo, lower storage cost due to faster release of cargo and reduced transit time among other benefits.
Speaking during the KRA stakeholders meeting in Mombasa, she urged companies and players in the trade industry to join the AEO.
“It also fulfils the global best practices of granting special authorization and other privileges to reliable economic operators for faster movement of cargo” she added.
So far, 175 companies in the country have been accredited in the system, according to Yusuf.
The system creates a blue channeling that sees direct release of cargo when both the importer and clearing agent are enlisted as AEO.
“Transit cargo also benefits in the blue channeling if the importer and clearing agent are accredited ,otherwise goods will be subjected to verification as determined by customs procedures,” said Yussuf.
Source: The Star
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