February 06, 2022
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Customs risk

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What is risk from a customs point of view?

From a customs point of view, ‘risk’ refers to the likelihood and the impact of an event occurring, with regard to the entry and exit of goods moved between the customs territory and other territories, which would:

  • prevent the correct application of customs territory measures; 
  • compromise its financial interests; 
  • pose a threat to the security and safety of its residents, to human, animal or plant health, to the environment or to consumers.

What is customs risk from business perspective?

The legal rules applicable to goods brought into or taken out of the customs territory, on the one hand, impose requirements to comply with, and on the other hand, offer various procedural simplifications and tax saving opportunities. Therefore, businesses manage two types of risk:

  • the risk of non-compliance with legal requirements;
  • and the risk to miss out to acquire competitive advantage (by not utilising legal possibilities).

Customs compliance and risk management should be integral parts of the same management process. See article Managing customs risk and compliance: an integrated approach by Professor David Widdowson.

Comments ()

en
3 real-life cases: To be or not to be in trade and customs compliance?
22-03-2023

Why is there so much talk and writing about trade and customs compliance? Why is so much attention being paid to this issue in legislation and judicial practice? What are the consequences of non-compliance with many laws and trade agreements? Read about 3 real-life cases of failing to comply and their consequences.

Dr. Ilona Mishchenko

compliance and risk management
en
3 real-life cases: To be or not to be in trade and customs compliance?
22-03-2023

Why is there so much talk and writing about trade and customs compliance? Why is so much attention being paid to this issue in legislation and judicial practice? What are the consequences of non-compliance with many laws and trade agreements? Read about 3 real-life cases of failing to comply and their consequences.

Dr. Ilona Mishchenko

compliance and risk management
image en
Risk management - the general process
12-02-2023

Dr. Talke Ovie

compliance and risk management
image en
Risk management - the general process
12-02-2023

Dr. Talke Ovie

compliance and risk management
en
Customs supply chain management in times of uncertainty
11-12-2022

It is clear that global trade has new challenges and John Finley made a good point when he said that [business] maturity is the capacity to endure uncertainty. The future is uncertain, but the key may well be to have a Customs supply chain that consists of a team working together to deliver cost-effective and quality goods as well as a matching service; moreover, in today’s world of global trade there is an urgent need to embrace and use data-driven decisions.

Ronnie Van Rooyen

compliance and risk management
en
Customs supply chain management in times of uncertainty
11-12-2022

It is clear that global trade has new challenges and John Finley made a good point when he said that [business] maturity is the capacity to endure uncertainty. The future is uncertain, but the key may well be to have a Customs supply chain that consists of a team working together to deliver cost-effective and quality goods as well as a matching service; moreover, in today’s world of global trade there is an urgent need to embrace and use data-driven decisions.

Ronnie Van Rooyen

compliance and risk management
en
Customs compliance programmes tomorrow – focus on ‘prepare’, not ‘repair’
04-12-2022

When we come to December and ponder what the new year may bring, it is an ideal opportunity to reflect on the past success and failure of our trade business in order to seek-out how to improve our business performance in the future. Let’s consider compliance reviews that deliver the highest value but require the least effort.

Ronnie Van Rooyen

compliance and risk management
en
Customs compliance programmes tomorrow – focus on ‘prepare’, not ‘repair’
04-12-2022

When we come to December and ponder what the new year may bring, it is an ideal opportunity to reflect on the past success and failure of our trade business in order to seek-out how to improve our business performance in the future. Let’s consider compliance reviews that deliver the highest value but require the least effort.

Ronnie Van Rooyen

compliance and risk management
image en
Customs clearance in the EU: basics for the container shipping and logistics industry
29-11-2022

Customs Knowledge Institute

compliance and risk management
image en
Customs clearance in the EU: basics for the container shipping and logistics industry
29-11-2022

Customs Knowledge Institute

compliance and risk management
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