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National Monitoring Committees on NTBs
Delays in transit bonds cancellation
Posted on : 23 - Jul - 2012 - Viewed : 45 times

Affected Countries : EAC Partner States

Action by : EAC Secretariat to coordinate

Impact on Business : Added costs for transit traffic incl. customs bonds.

Prioritirised action : Prompt cancellation of transit bonds.

Bottlenecks or Success Factor  : Likelihood of increase of dumping of goods in transit, Goodwill from Partner States Revenue Authorities.

Status and recommandation :

The Ministers decided that the Partner States implement the electronic cancellation of bonds within 24 hours.

Kenya reported that she is cancelling the bonds manually within 24 to 48 hours. Kenya further reported that she is in the process of upgrading the Simba system to enable her to cancel the bonds within 24 hours.