WHAT IS CUSTOMS AUDIT
Customs audit – verification of financial statements and business operations of an organization which activities are related to the movement of goods across the border of the Eurasian Economic Union (EAEU).
Legally, the concept of “Customs audit” is not fixed, however, the participants of foreign economic activity more and more often request the TL GROUP for providing this service, also called a “Self-inspection of a participant of foreign economic activity (FEA)”.
WHY IS CUSTOMS AUDIT NEEDED?
In order to:
- Identify potential areas of risk to avoid fines and prosecution of offenses.
- Reduce the cost of foreign trade by optimizing processes and workflow
- Detect and return overpaid payments
- Optimize the time for customs clearance by advance preparation of information to respond to requests from customs authorities during new deliveries.
- Prepare for protection of company interests in the implementation of customs control after the release.
WHAT ARE THE TYPES OF CUSTOMS AUDIT
1 – full customs audit for a period of time
2 – limited customs audit
FULL CUSTOMS AUDIT
During a full inspection of a participant in a foreign economic activity, all aspects of its activity are considered for a given period of time. Such information gives a complete picture of the foreign economic activity of the company being inspected. The service includes:
- Legal expertise of documents involved in the company’s foreign economic activity
- Analysis of the internal processes of the company on foreign economic activity
- Verification of counterparties involved in the transaction
- Verification of the validity of the requirements of customs authorities
- Verification of overpaid customs duties and taxes and assessment of the prospects for their return
- Analysis of possible grounds for benefits
- Errors and inconsistencies identification
As a result, the company receives recommendations for correction of the existing business processes and documents on future deliveries and, if necessary and in case of the possibility of making changes, on deliveries that have already passed.
Thus, with ordering the service “full customs audit” you receive instructions on minimizing and completely reducing the risks that can lead to additional accrual of fines, customs duties, and, in extreme cases, administrative and even criminal liability.
Thus, a full customs audit implies a full verification of the company’s foreign trade activities.
LIMITED CUSTOMS AUDIT
The objective of a limited audit is to minimize and avoid risks from incorrect foreign economic activity, but within a specific area.
Such areas have been popular:
- Verification of foreign trade contracts
- Verification of documentation provided by an external counterparty
- Audit of the correctness of the application of the HS codes (customs commodity codes)
- Audit of necessity and sufficiency of non-tariff regulation measures (availability of certificates and licenses)
- Audit of foreign trade contracts, accompanying documentation audit and also audit of interaction with counterparties are the most often ones to be ordered from us.
As in the case of a full customs audit, as a result of the audit, recommendations are made for the identified risk areas and the mechanisms for their elimination are described. All this within a specific aspect.
CUSTOMS AUDIT COST
The cost of an audit depends on many factors:
- Audit scope
- Size of the estimated company and existing business processes
- Number of transactions
- Number of subjects inspected (customer only or all contractors involved)
- Stage of cooperation (for existing customers – a flexible system of discounts, since part of the workflow is already known and partially developed by the contractor)
The TL GROUP office managers are looking forward to your requests for a customs audit.
+7 812 313-56-33