New Customs Proclamation Comes in to Force

by Zelalem

Tayitu 14th Tayitu 14th

A new customs proclamation is promulgated and is in effect as of Wednesday December 24, 2014. The new bill has fully replaced the former customs bill, Proclamation Number 622/2009.

The new proclamation is dubbed Proclamation 859/2014 which aims at promoting and supporting the manufacturing industry and economic development has eight parts. The newly passed bill introduces structural changes in the authority and its human resources management.

In addition to this it has included provision that ensures free movement of goods for those organizations identified as Authorized Economic Operators (AEO), eases Post Clearance Audits (PCA), and decentralizes the activity of the authority.

The proclamation is expected to be ll fill gaps that were witnessed because of the customs proclamation that has been in effect for the past five years.

The need for a more modern customs legal framework to support development of industries and investment has made the introduction of the new proclamation necessary.

Draft proclamation which will amend the income tax legal regime governing is also on the making and is now at the Ministry of Finance and Economic Development (MoFED) for final revision before it is delivered to the Councils of Ministers.

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