Outline four ways through which a government could prevent loss of revenue from imports

Outline four ways through which a government could prevent loss of revenue from imports

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- Correct valuation of imports such that there is no under valuation.
- Impose stiff penalties on customs duty defaulters.
- Destruction of counterfeit goods which could be of low value compared to the original goods.
- Tightening controls at the point of entry to eradicate corruption among customs officers.
- Adequate documentation using import declaration form importer code numbers, personal identification numbers and clean report of findings.
- Use of information systems that are up to date and secure to capture all import data very
fast and to give timely reports on duty payable

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Wilfykil answered the question on February 15, 2019 at 05:59

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