Inspection of exporters and importers
Sanray professionals support with pre-shipment inspection (PSI) services to secure import revenues for themselves and their population.
Governments use PSI programmes to guarantee that imports adhere to their rules. Noncompliance with these regulations can result in the following penalties:
- Duty and tax revenues are being lost.
- Reserves of foreign currency have been depleted (in countries where exchange controls exist)
How Does It Work?
Pre-shipping physical inspections of commodities are carried out in the exporting country to determine the actual nature of the products.
After scrutinising the invoice and other documentation, an accurate valuation and customs tariff number are assigned. These are used in conjunction with the official duty rates in the client nation to determine the correct tariffs and taxes due.
The importer is subsequently given a Sanray certificate. This is used to prove that full duty has been paid before the goods are cleared. Any discrepancies between the real duty collected and the Sanray certificates can be investigated and resolved.
Sanray Pre-Shipment Inspection (PSI) ensures that duty revenues are maximised. Importers have no way of pressuring customs to give lower rates if duty assessment is done in the place of export.
All members must now comply with the World Trade Organization’s (WTO) Agreement on Customs Valuation. Countries that implement the Agreement without Sanray PSI invariably see a drop in revenue revenues. Sanray makes certain that the Agreement is completely implemented, as required by the WTO, and that duty revenue collections are maintained.
Facilitation of trade:
Importers who do not follow import processes and inefficient Customs administrations can both cause trade delays. Before the item is shipped, a Sanray certificate enables quick Customs clearance by performing the necessary physical and documentary inspections.Sanray PSI prevents purposefully inflated invoicing, which deters capital flight in nations with exchange restrictions. This can decrease foreign exchange reserves, resulting in lower taxable revenues for multinational corporations.
By examining goods in the country of export before dispatch, Sanray PSI greatly minimises the incidence of unlawful imports, such as radioactive waste. As a PSI programme takes effect, a massive database of essential trade data is developed, which may be sent to the Client Government in a number of formats as a tool for economic decision-making and to reassure contributors.