How to deal with Customs compliance in a dedicated control frame; the use of smart data analytics and supply chain solutions to be ready for a severe and more punitive regulatory framework.
The international market and supply chain is changing its dynamics every day. This includes the future direction and growth path of E-commerce. Tariffs and VAT are thriving parameters used to shape the global relationships between trade partners/blocks.
At best, customs and tax authorities are trying to simplify the control framework at their end, without sacrificing the thoroughness and completeness of their audits. Key in this development is the requirement of smart data analytics.
The requirement of key data becomes larger, more diverse and comes from more and more different sources and will in the nearby future increasingly be required real time. Under the AEO requirement, auditors will also check whether you are in control of your dataflows and how you are using data to stay in control.
The issue for the need of data from different sources is to bring this data in one single database and to use digitised match file coding to enrich current base files with data from the other sources, digitise checks on filings before the actual filing, speed up the creation of 100% correct filings and reduce the need for administrative resources to review and work filings in excel spreadsheets.
Smart data analytics is to use digitised in process audits and a sound data governance model to enable:
- compliant filing of VAT returns and Import/Export declarations;
- reduces capacity requirements for operational filings;
- focusses the operational filings on exceptions and real issues;
- provides smart reporting to all levels that requires this, incl. CFO-level;
- increases the “being in control” level from an AEO perspective.
Key Highlights
With this objective in mind, we invite you to an informative webinar where we will discuss the following.
- How an import/export related data can be checked using logistics data.
- Smart use of master files and dash boards for customs planning and internal audits.
- How to use smart coding to drive VAT filing preparations.
