EAEU to ensure effective control over turnover of goods

EAEU to ensure effective control over turnover of goods

The members of the Senate, the Upper House of the Kazakh Parliament, approved the draft Law ‘On Ratification of the Agreement on the Mechanism of Traceability of Goods Imported into the Customs Territory of the Eurasian Economic Union’. The Agreement itself was signed on May 29, 2019 by the EAEU member states at a meeting of the Supreme Eurasian Economic Council in the Kazakh capital. 

The rules stipulated in the document aim to create conditions for ensuring effective control over the turnover of goods when moved from the territory of one member state to the territory of another, detecting illegal traffic, eliminating various schemes of tax evasion, as well as increasing tax revenues and customs payments to the state budget.

The provisions of the agreement regulate the terms and procedures for creating the mechanism for the traceability of goods imported into the customs territory of the EAEU. The traceability will be carried out on the imported goods. The list of goods that are subject to traceability is approved by the Eurasian Economic Commission (EEC). In addition, each EAEU member state will have to create the National Traceability System and then ensure that the taxpayers completed their supporting documents within this traceability system. Otherwise, without this paperwork, the turnover of goods within the EAEU will be prohibited,” said Yerulan Zhamaubayev, Kazakh Finance Minister.

The document clearly outlines the regulations for the information exchange on th control over the turnover of goods between the EAEU member states. Zhamaubayev said that such cooperation will be carried out on an ongoing basis through the integrated information platform.

After the ratification of the Agreement is completed, each EAEU member state must decide on which government authorities will be responsible for coordinating and implementing the traceability mechanism within 120 calendar days. The pilot project will be launched after 12 months from the date of entry into force of the Agreement,” Zhamaubayev said.

Based on the results of the pilot project, the further decision on the transition to the permanently functioning traceability system will be made accordingly.

 

Photo:  akchabar.kg