Pre-Shipment INSPECTION

GDENS provides pre-shipment inspection (PSI) services as a way of protecting import revenues for themselves and their citizens.

How It Works:

• A physical inspection of goods is carried out before pre-shipping, establishing the exact nature of the goods.
• The invoice and other documents are then scrutinised and an accurate valuation, and customs tariff code, are assigned. These are used, in conjunction with, the client country’s published duty rates, to calculate the correct duties and taxes payable.
• GDENS certificate is then issued to the importer. This is used to substantiate the payment of full duty, prior to clearing the goods.
• The actual duty collected is compared with the GDENS certificates, and any shortages can be investigated and corrected.

Benefits:

GDENS Pre-Shipment Inspection (PSI) maximises duty collections. By undertaking duty assessment in the country of export, importers have no opportunity to pressurize customs to assign lower rates.

GDENS ensures that the Agreement is fully implemented as required by the two parties, and in a way that maintains duty revenue collections.

Trade facilitation: Inefficient Customs administrations and the failure of importers to comply with import procedures can both delay trade. GDENS certificate ensures rapid Customs clearance, by undertaking the necessary physical and documentary inspections before the consignment is dispatched.

GDENS PSI deters capital flight in countries where exchange controls exist by preventing deliberately inflated invoicing. This can deplete foreign exchange reserves, which can also reduce the taxable income declared by multinational companies.

GDENS PSI significantly reduces the incidence of illegal imports, such as radioactive waste, by inspecting shipments in the country of export before dispatch. As a PSI programme takes effect, so a vast database of vital trade information is created, which can be supplied to the Client  in a variety of formats, as an aid to economic decision making and to induce confidence in donors