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of <h1>Customs Act Update: Importers and Exporters Must Self-Assess Declarations; RMS to Verify. NRMC Expands, Sets Facilitation Targets.</h1> The circular introduces 'Self-Assessment' under the Customs Act, shifting the responsibility of filing correct declarations to importers and exporters. The Risk Management System (RMS) may verify declarations, with potential reassessment if inaccuracies are found. This aims to enhance facilitation by reducing pre-clearance checks. The circular notes the need to refine risk parameters to improve interdiction effectiveness and sets facilitation targets for Air Cargo Complexes, Seaports, and Inland Container Depots (ICDs). The National Risk Management Committee (NRMC) will include a new member, and regular meetings are mandated. The Board expects progress reports every two months to ensure compliance.
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