Solutions

Customs Reconciliation Tool

Ensure effective reconciliation and management of the UAE Free Zone Customs liability

Given the complexity of the Customs post-clearance audit process and long list of requirements, maintaining proper records requires an efficient Customs control function.

As part of the compliance process, the United Arab Emirates (UAE) Customs requires each Free Zone (FZ) company to provide their record keeping (e.g., available stock, import and export data, stock reconciliation, etc.), which must be kept up to date from the date of inception, in a certain way of reconciliation and mapping between the inbound and outbound Customs data.

The records and information must be presented in a pre-defined format, which could potentially be a complex exercise for most businesses and can easily take several months to years to complete.

Deloitte has launched the Customs Reconciliation Tool (CRT) which aims to determine the available stock by grouping transactions per HTS Code, Country of Origin, and by Customs Declaration number and facilitates the mandatory stock reconciliation process that clientsoperating in FZ’s must complete, as part of a self-assessment or customs audit process.

Customs Reconciliation Tool

Get in touch

Fernand Rutten

Fernand Rutten

Partner | ME Customs and Global Trade Advisory Leader

Fernand is the Middle East Customs and Global Trade Advisory Leader at Deloitte Middle East and is based in the United Arab Emirates (UAE). He has more than 27 years of experience in indirect tax, wit... More

Reshma C Sharma

Reshma C Sharma

Director | Indirect Tax

Reshma is a Director with over 15 years of Indirect Tax and Global Trade Advisory experience and is currently based in Deloitte UAE.  Her clients include global organizations in the oil and gas, commo... More

Shaimaa Husseiny

Shaimaa Husseiny

Senior Manager | Customs and Global Trade Advisory

Shaimaa is a Customs and Global Trade Advisory Senior Manager within Deloitte Middle East. She is a dedicated and resourceful Legal Professional with over 12 years of experience in advising domestic a... More