Quick Summary
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the signing of Agreement between India and Spain on Cooperation and Mutual Assistance in Customs Matters.
Benefits
The Agreement will help in making available, reliable, quick and cost-effective information and intelligence for the prevention and investigation of Customs offences and apprehending of Customs offenders.
The Agreement would provide a legal framework for sharing of information between the Customs authorities of the two countries and help in the proper administering of Customs laws and detection and investigation of Customs offences and the facilitation of legitimate trade.
The agreement has following provisions
- The correct assessment of customs duties, especially information pertaining to the determination of the customs value, tariff classification and the origin of the goods traded between the two countries;
- The authenticity of any document produced in support of a declaration (such as certificate of origin, invoices etc.) made to the requesting authority;
- Customs offence concerning illicit movement of the following:
- Arms, ammunition, explosives and explosive devices;
- Works of art and antiques, which are of significant historical, cultural of archaeological value;
- Toxic materials and other substances dangerous to the environment and public health;
- Goods subject to substantial customs duties or taxes;
- New means and methods employed for committing Customs offences against Customs legislation.
FAQ :
The Union Cabinet has approved the signing of an Agreement between India and Spain on Cooperation and Mutual Assistance in Customs Matters.
The agreement will provide reliable, quick, and cost-effective information and intelligence to prevent and investigate customs offences, apprehend offenders, and facilitate legitimate trade.
Information will be shared for the correct assessment of customs duties, including customs value, tariff classification, and origin of goods. It will also cover the authenticity of supporting documents and illicit movement of specific goods.
The agreement covers illicit movement of arms, ammunition, explosives, works of art and antiques of historical/cultural value, toxic and dangerous materials, goods with substantial duties, and new methods used in customs offences.
By providing a legal framework for information sharing and proper administration of customs laws, the agreement will help in detecting offences and facilitating legitimate trade.
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