New Customs program facilitates USD 11,7 billion in declarations

By Espinosa Bellido Abogados

Since its implementation in August 2018, a new customs facilitation and security program has accelerated in Peru more than 250,000 declarations for a total Free on Board (FOB) value of USD 11,7 billion. Called FAST, the program seeks to increase the transparency of the entry and exit of goods, as a result of adequate risk management and modernization of the digitalization of customs procedures.

In a press release, the National Superintendence of Customs and Tax Administration (Sunat) explained that the program “seeks to reduce dispatch times, eliminating face-to-face procedures through the use of electronic formats, implementing differentiated dispatches for Authorized Economic Operators (OAS) and strengthening the exchange of information with foreign trade operators and the intensive use of technologies.” As a result of the application of the new program, 27,000 foreign trade operators have been benefited.

In addition to facilitating customs operations, FAST will allow the implementation of a comprehensive customs risk management system intended to provide a fast and easy-to-use mechanism to exchange risk-related information directly between operational officials and risk analysis centres. It is a key element in the development of a risk management framework as it facilitates customs intervention for the highest risks.