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The NCTS joint transit regime has been launched in Ukraine

09/ 04/ 2021
  This week, Order № 69 of the Ministry of Finance dated February 9, 2021, was registered. This document defines the mechanism of information exchange between the State Customs Service and the NBU in order to grant the status of the financial guarantor to banks and insurance companies under the joint transit regime and NCTS. The European Business Association welcomes this decision, which the community has been working on for many years. This gives companies in Ukraine the opportunity to fully experience the new possibilities provided by the NCTS system. There are several types of special transit simplifications. The State Customs Service may allow the use of the following special transit simplifications for business in the manner and under the conditions specified by customs legislation: general financial guarantee for delivery of goods from a financial institution, general financial guarantee with 50% reduction of the basic amount as collateral, general financial guarantee with 70% reduction of the basic amount as collateral, exemption from guarantee (which will later enable companies to save money to guarantee delivery of goods); application of seals of a special type without involving the services at customs; an authorized consignor who is authorized to carry out transit operations without presenting the goods at the customs office of departure; authorized consignee is a business authorized to receive at its premises or at any other specified place, the goods under a transit procedure without presenting them at the customs office of destination; submission of a transit declaration with reduced data. Business is also waiting for the signing of the Agreement on the recognition of Ukrainian NCTS entities between the governing bodies of Ukraine and the EU, which will introduce the exchange of information with 35 countries in real-time. It is expected that this will help reduce cargo delays at the border by increasing the efficiency of risk analysis and determining the list of necessary control procedures before the arrival of goods at the customs border of Ukraine. Currently, there is already one company that has received the first NCTS certificate, for now, it can use the NCTS regime inside Ukraine. We hope that the simplifications will be available to even more companies shortly.   Be the first to learn about the latest EBA news with our Telegram-channel – EBAUkraine.  

This week, Order № 69 of the Ministry of Finance dated February 9, 2021, was registered. This document defines the mechanism of information exchange between the State Customs Service and the NBU in order to grant the status of the financial guarantor to banks and insurance companies under the joint transit regime and NCTS. The European Business Association welcomes this decision, which the community has been working on for many years.

This gives companies in Ukraine the opportunity to fully experience the new possibilities provided by the NCTS system. There are several types of special transit simplifications. The State Customs Service may allow the use of the following special transit simplifications for business in the manner and under the conditions specified by customs legislation:

  • general financial guarantee for delivery of goods from a financial institution, general financial guarantee with 50% reduction of the basic amount as collateral, general financial guarantee with 70% reduction of the basic amount as collateral, exemption from guarantee (which will later enable companies to save money to guarantee delivery of goods);
  • application of seals of a special type without involving the services at customs;
  • an authorized consignor who is authorized to carry out transit operations without presenting the goods at the customs office of departure;
  • authorized consignee is a business authorized to receive at its premises or at any other specified place, the goods under a transit procedure without presenting them at the customs office of destination;
  • submission of a transit declaration with reduced data.

Business is also waiting for the signing of the Agreement on the recognition of Ukrainian NCTS entities between the governing bodies of Ukraine and the EU, which will introduce the exchange of information with 35 countries in real-time. It is expected that this will help reduce cargo delays at the border by increasing the efficiency of risk analysis and determining the list of necessary control procedures before the arrival of goods at the customs border of Ukraine.

Currently, there is already one company that has received the first NCTS certificate, for now, it can use the NCTS regime inside Ukraine. We hope that the simplifications will be available to even more companies shortly.

 

Be the first to learn about the latest EBA news with our Telegram-channel EBAUkraine.

 

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