With the objective of reducing international trade costs by making customs administration more technology-friendly, an Online Valuation Database System has been implemented at 18 customs offices across the country. The system was officially launched simultaneously at all customs offices through a two-day Customs Management Seminar organized by the Department of Customs, which began on Friday.
Speaking at the seminar, which was inaugurated under the chief guestship of Finance Minister Rameshwar Prasad Khanal, officials stated that the GATT Valuation System has now been fully implemented in customs after a long time.
Finance Minister Khanal clarified that transaction value will now be applied instead of reference value, noting that since market forces determine the price of goods, procedural simplification is essential. He emphasized that customs administration should be developed as the backbone of a production- and export-oriented economy in the coming days. Expressing confidence that the new system will eliminate the compulsion to use fake invoices and documents, the Finance Minister urged the private sector to conduct business honestly by declaring real transactions and submitting accurate documentation.
At the seminar, the presidents and senior vice presidents of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Nepal Chamber of Commerce, and Confederation of Nepalese Industries (CNI) welcomed the online valuation database system. They called on the government to review certain penalty and fine provisions in the Customs Act, 2082, strengthen measures to control smuggling, and introduce policy arrangements to promote domestic industries.
Revenue Secretary Bhupal Baral, along with heads of the Revenue Management Division, Inland Revenue Department, and Department of Revenue Investigation, emphasized the need to control revenue leakage and promote integrity and professionalism. They noted that alongside system development and implementation, reforms in both personnel and practices are equally necessary.
The Deputy Director General of the Department of Money Laundering Investigation urged more effective investigation, inquiry, and prosecution of trade-based money laundering cases, along with regular reporting to concerned agencies.
Director General of the Department of Customs Shyam Prasad Bhandari reaffirmed the department’s commitment to implementing the guidance of the Finance Minister and the suggestions of the private sector, and to continuously working toward trade facilitation, revenue collection, and technological expansion. The seminar expressed confidence that the initiative would enhance the use of technology in customs administration, make the valuation system more scientific, and further strengthen cooperation between the government and the private sector.
