Dominican Republic's New Customs Declaration for Exports to Take Effect in January
The Dominican Republic issued a guidance for upcoming regulations that aim to streamline the country’s exporting process, according to a Dec. 27 KPMG post. The regulations, which take effect Jan. 8, establish a single customs declaration for all exports shipped…
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from a customs territory, except for merchandise exported by air and valued less than $200, KPMG said. A single declaration cannot contain merchandise “destined for different customs regimes,” KPMG said, and provides the exporter 20 days to follow through with the export. The guidance also established a “tolerance limit,” which “allows” the customs authority not to reject a shipment for undeclared goods or for an inaccurate valuation. This only applies if the “difference found does not exceed” 10 percent of the “declared merchandise value,” KPMG said, although penalties may be imposed on the exporter.