Multinationals Adopt Datadriven Customs and Pricing Strategies

Multinationals Adopt Datadriven Customs and Pricing Strategies

This paper analyzes the World Customs Organization (WCO) guidelines on customs valuation and transfer pricing from a data analyst's perspective, exploring their interconnections and potential risks. It provides policy interpretations, practical recommendations, and compliance strategies for customs officials, businesses, and tax authorities. The paper emphasizes the crucial role of information sharing and data analysis in improving valuation accuracy and efficiency, ultimately contributing to a fair trade environment. It offers insights into navigating the complexities of these regulations and minimizing potential disputes related to cross-border transactions and pricing.

01/26/2026 Customs Knowledge
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Bahamas Strengthens Customs Tariffs to Increase Revenue

Bahamas Strengthens Customs Tariffs to Increase Revenue

The World Customs Organization (WCO) held a national workshop in the Bahamas on the Harmonized System (HS) to enhance the Bahamas Customs' capacity in tariff classification. The workshop covered the theory and practice of HS coding, emphasizing the application of the General Rules for Interpretation and focusing on issues such as the classification of parts. Through talent development and the Mercator Program, it aims to facilitate trade in the Bahamas. The workshop also explored the relationship between HS code optimization and tax revenue growth from a data analysis perspective.

01/26/2026 Customs Knowledge
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Gambia Revenue Authority Boosts Project Management for Modernization

Gambia Revenue Authority Boosts Project Management for Modernization

The Gambia Revenue Authority, with support from the WCO-Sweden Cooperation Programme (OMD-MADAO), has successfully developed a project management methodology to improve the efficiency of reform and modernization projects. This methodology covers all phases of the project lifecycle and is expected to be officially approved and fully implemented in September. It aims to establish an efficient and standardized project management system within the Gambia Revenue Authority and serve as a model for other developing countries. The initiative will enhance the GRA's ability to effectively manage and execute strategic projects.

01/26/2026 Customs Knowledge
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Barbados Customs Adopts Skillsbased Hiring to Boost Efficiency

Barbados Customs Adopts Skillsbased Hiring to Boost Efficiency

Barbados Customs is reforming its human resource management, collaborating with the WCO and IMF to develop a skills directory and explore the establishment of an internal HR department. This initiative aims to modernize HR practices within the customs administration, aligning them with international standards and best practices. The focus on skills-driven development is expected to enhance the capabilities of customs officers and improve overall operational efficiency. This reform represents a significant step towards strengthening Barbados Customs' capacity to effectively manage its workforce and contribute to national economic development.

01/26/2026 Customs Knowledge
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Sierra Leone Adopts Competencybased HR System for Revenue Authority

Sierra Leone Adopts Competencybased HR System for Revenue Authority

With WCO assistance, the Sierra Leone National Revenue Authority implemented HR reforms based on a competency model. This initiative aims to optimize recruitment, training, and performance management processes. By focusing on clearly defined competencies, the reform seeks to enhance organizational effectiveness and improve the overall performance of the revenue authority. The competency model serves as a framework for developing and evaluating employees, ensuring that they possess the necessary skills and knowledge to effectively perform their duties. Ultimately, this leads to improved revenue collection and a more efficient tax system.

01/20/2026 Customs Knowledge
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DRC Zambia Launch Tradeboosting Customs Link

DRC Zambia Launch Tradeboosting Customs Link

The Democratic Republic of Congo (DRC) and Zambia are collaborating on a customs systems interconnectivity project at the Kasumbalesa border post to enhance cross-border trade efficiency. Supported by the World Customs Organization (WCO) and the German Development Cooperation (GIZ), the project has established a steering committee and developed a work plan. Data exchange is expected to commence in May 2025, significantly reducing trade costs and promoting regional integration. This initiative underscores the commitment of both nations to streamlining trade processes and fostering economic growth through enhanced customs cooperation.

01/20/2026 Customs Knowledge
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Colombia Overhauls Customs to Boost Trade Efficiency

Colombia Overhauls Customs to Boost Trade Efficiency

The World Customs Organization (WCO), through its Global Trade Facilitation Programme (GTFP), is assisting Colombia in enhancing customs efficiency. The workshop focused on strategic planning and project management, supporting the Colombian Tax and Customs Authority (DIAN) in building a results-based management system and a 'Customs of the Future' model. This initiative aims to create an efficient and convenient customs environment through intelligent clearance, a cross-border single window, and upgraded risk management systems. The goal is to streamline trade processes and improve overall customs operations in Colombia.

02/12/2026 Customs Knowledge
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Asiapacific Customs Centers Boost Remote Training

Asiapacific Customs Centers Boost Remote Training

The 19th Meeting of Heads of WCO Asia Pacific Regional Training Centers (RTCs) focused on remote training, discussing challenges and best practices. RTCs shared experiences, emphasizing the importance of cooperation and highlighting the need to enhance data analysis skills. The meeting aimed to promote customs capacity building and modernization in the Asia-Pacific region through collaborative efforts and the adoption of innovative training methodologies. Key discussions revolved around improving the effectiveness and accessibility of remote training programs to better equip customs officers with the necessary skills for the future.

02/12/2026 Customs Knowledge
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Sri Lanka Boosts Nuclear Detection at Customs Via RANDA Training

Sri Lanka Boosts Nuclear Detection at Customs Via RANDA Training

The World Customs Organization (WCO), in collaboration with the U.S. Department of Energy, conducted a RANDA Project national training in Sri Lanka. This training aimed to enhance the capacity of customs officers to respond to nuclear and radiological threats. The curriculum covered risk awareness, detection skills, legal frameworks, transport security, and risk management. The training also included site visits to further improve the professional capabilities of customs personnel and strengthen nuclear security levels in Sri Lanka. This initiative is crucial for safeguarding against illicit trafficking of nuclear and radioactive materials.

02/12/2026 Customs Knowledge
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South Africa Eswatini Enhance Trade Via Border Efficiency Study

South Africa Eswatini Enhance Trade Via Border Efficiency Study

South Africa and Eswatini jointly launched a Time Release Study (TRS) at the Oshoek-Ngwenya border post. The study aims to improve the efficiency of goods clearance by identifying and addressing bottlenecks in border procedures. Supported by the World Customs Organization (WCO), the study is expected to release its findings in April 2024. The results will provide both countries with a basis for optimizing border management and promoting trade facilitation. This initiative is crucial for streamlining cross-border trade and enhancing economic cooperation between South Africa and Eswatini.

02/12/2026 Customs Knowledge
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