The government of your country is exploring ways of preventing loss of tax revenue from imports As a tax expert advise the government of possible ways...

      

The government of your country is exploring ways of preventing loss of tax revenue from imports
As a tax expert advise the government of possible ways of preventing the loss of tax revenue from imports

  

Answers


Wilfred
- Correct valuation of imports such that there is no under valuation. Impose stiff penalties on customs duty defaulters.
- Destruction of counterfeit goods which could be of low value compared to the original goods.
- Tightening controls at the point of entry and eradicate corruption among customs officers.
- Adequate documentation using import declaration forms, importer code numbers, personal identification numbers, clean report of findings.
- Use of information system that is up to date and secure to capture all import data very fast and to give timely reports on duty payable
Wilfykil answered the question on February 15, 2019 at 08:07


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