The Andean Community Commission approved Decision 848, through which the alignment of Customs Regimes is updated to facilitate foreign trade operations in the region.
With the purpose of simplifying the operations carried out in the customs of Bolivia, Colombia, Ecuador and Peru, countries member of the Andean Community, the regulatory alignment was updated on the following topics:
– Form and deadlines for submission, transmission, correction and modification of the cargo manifest.
– Authorization for the creation of temporary deposits and term of permanence of merchandise.
– Opportunity and deadlines for submission, correction and documents that accompany the customs declaration of goods.
– Presence of the declarant in the physical examination.
– Deadlines for:
- Re-importation in the same State;
- Temporary admission for re-export in the same State;
- Temporary admission for active improvement; and
- Final export.
– Incorporation of the concept of Special Economic Development Zone: A duly delimited part of the national territory of each Andean Community Member Country, in which the goods entered there, are considered as if they were not within the community customs territory, with respect to import duties and taxes along with surcharges that may apply.
Decision 848 repeals Decisions 671 and 716, and entered into force on Friday, July 26, 2019, date of its publication in the Official Gazette of the Cartagena Agreement No. 3699. However, in accordance with the Fifth Final Provision, this norm will enter into force in the Republic of Colombia forty-eight (48) months following its publication date.
On the other hand, through Decision 846 of July 26, 2019, the Andean Community Commission stipulated that free zone products or merchandise will benefit from the tariff relief stipulated in the Cartagena Agreement Release Program, as long as they comply with the rules of origin of the Andean Community.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.