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EEC's new cartoon in Belarusian tells about EAEU Customs Code novelties

Economy 19.01.2018 | 17:48

MINSK, 19 January (BelTA) – The Eurasian Economic Commission (EEC) has produced an animated film in Belarusian about the novelties in the Customs Code of the Eurasian Economic Union (EAEU), BelTA learned from the EEC.

The EAEU Customs Code took effect on 1 January 2018. The document replaced the Customs Code of the Customs Union that was valid since 2010.

In the age of the digital economy one of the key elements of the EAEU Customs Code is the final transition to e-declaration without the need for any additional paper documents.

The time for releasing goods has been considerably reduced. The new Customs Code envisages the release of goods within four hours, instead of one working day.

The number of customs controls has been reduced from 12 to seven.

The provisions on the free customs zone procedure have been revised. Residents of free economic zones have now the right to export goods placed under the free customs zone procedure without the need to wait for its completion for the creation of so-called processing chains.

The EAEU Customs Code envisages 17 ways of streamlining the institute of the authorized economic operator. Their choice will depend of the type of the authorized economic operator selected by the entity.

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