Hello, welcome to this class topic on Customs Authority: We are going to be looking at the Meaning of customs authority, and various functions of customs authority in commerce:
Table Of Contents
- Meaning of customs authority.
- Functions of custom authority.
MEANING OF CUSTOMS AUTHORITY
Meaning: Customs authority can be defined as a department in the ministry of internal affairs charged with the responsibility of accessing and collecting customs duties on import, export and goods produced locally. It also computes trade statistics from import and export trade documents. The customs department regulates and controls import and export trade, collects imports, exports and excise duties.
Functions of customs Authority
Here we will take a look at the various functions of customs authority in commerce:
- Collection of revenue: One of the functions of customs authority is to assess and collect revenue from tariffs and excise duties.
- Supervision of Warehouse: Another functions of customs department is to supervise bonded warehouse.
- Compilation of statistical records: The department compiles statistics on export and import trade which are supplied to the government.
- Prevention of smuggling: The customs authority prevent smuggling and seize contraband goods.
- Supervision of foreign trade: Another functions of customs is that it supervises foreign trade by ensuring that only licensed goods are imported or exported.
- Enforcement of ban: The customs authority ensures that ban on prohibited goods are enforced.
- Provision of quarantine facility: Customs authority provides appropriate quarantine facilities for the importation of livestock.
- Completion of documents: The customs will ensure that customs declaration forms and other documents are completed.
Revision Questions
These should be some of the questions that will likely come out during exams as a student.
- Define the term customs Authority.
- What are the functions of customs authority.
Look forward to see you in my next class: I will be taking you further on ports (Airports) authorities and their functions. To join the class [Click Here].