Customs Freight Simplified Procedures (CFSP)
Customs Freight Simplified Procedures (CFSP) is a system the European Union (EU) uses to facilitate easy customs clearance for goods entering or leaving the EU. It allows authorised economic operators to clear their own goods through customs using simplified procedures rather than having to go through a traditional customs declaration process. This can save time and money for businesses and also help to increase security and control over the movement of goods across EU borders. CFSP customs is available for both import and export procedures.
CFSP Simplified For You!
The Customs Freight Simplified Procedures (CFSP) provides two procedures for submitting import declarations, namely the Simplified Declaration Procedure (SDP) and Entry in the Declarant’s records. These procedures can be combined to facilitate the importation of goods. The process of submitting import declarations under either CFSP hmrc procedure involves two stages:
- The first stage involves the submission of a minimum amount of data to customs for the release of goods.
- The second stage involves the submission of supplementary declarations containing full fiscal and statistical data by a specified deadline.
Know more about customs CFSP and apply here.
What is a Simplified Declaration Procedure (SDP)?
The Simplified Declaration Procedure (SDP) allows products to enter the customs procedure without the immediate requirement of filing a detailed customs declaration upon release.
Along with offering Simplified Frontier Declarations with a larger dataset, it also removes the need for an additional declaration when introducing items for low-value imports. As a result, these products no longer need an additional declaration.
SDP is a flexible way for entering products into several customs processes, such as:
- Free movement
- Customs warehousing
- Internal Procedures
- External Handling
- End-use
- Temporary admission
- Re-export
- Export
- Procedures for low-value imports (LVBI replacement)
What is Entry in Declarant’s record (EIDR)?
The Entry in the Declarant’s Records (EIDR) provides a mechanism to introduce items into the customs procedure without immediately requiring a thorough customs declaration upon release. This method improves cash-flow management by giving operators the ability to supply fiscal data later on, empowering them.
Additionally, EIDR removes the need for an additional declaration when products are being entered into a customs warehouse. The EIDR declaration process consists of two parts: the first entry into the records and the additional declaration that needs to be filed within a month following the withdrawal.
EIDR offers an array of options for moving items through a range of customs processes, such as:
- Free movement
- Customs warehousing
- End-use
- Inward and outward processing
- Temporary admission
- Export
- Re-export
What are the specifications of CFSP?
To be eligible for the Customs Freight Simplified Procedures (CFSP), authorised economic operators (AEOs) must meet certain criteria. One critical requirement is:
AEO Status: In order to participate in the CFSP, a company must have AEO status, which can be obtained from national customs officials. This designation is conferred after confirming adherence to particular security and safety criteria.
Self-assessment: CFSP allows AEOs to clear their own goods through customs using simplified procedures. This enables them to assess the compliance of their products on their own.
Risk management: The Custom Freight Simplified Procedure requires AEOs for robust risk management systems that ensure compliance with EU regulations. This includes systems for identifying and managing risks related to security, safety, and the environment.
Continuous compliance: To maintain their AEO status, businesses must demonstrate continuous compliance with EU regulations and the terms of their CFSP authorisation. This includes regular audits and inspections by national customs authorities.
Authorised consignee/consignor: AEOs must be authorised consignees/consignors and have the authorisation for the specific procedures they want to use.
IT systems: AEOs must have IT systems in place that can interface with the national Customs IT systems to transmit and receive electronic declarations and other data.
What are the specifications of CFSP?
CFSP (Customs Freight Simplified Procedures) is needed for customs declaration because it streamlines the clearance process for goods being imported or exported. It allows for simplified procedures for the submission of declarations and reduces the administrative burden on businesses by simplifying the documentation requirements. This results in faster clearance times, reduced business costs, and increased efficiency for customs authorities.
The Bottom Line
CFSP is a system meant to make customs clearance for goods entering or leaving the EU easier. Authorised economic operators can manage customs clearance for their goods utilising expedited procedures. Its purpose is to reduce the time and costs associated with traditional customs processing while also improving the security and monitoring of products transiting across EU borders.
Additionally, CFSP procedures also help to ensure compliance with customs regulations and fiscal requirements while facilitating trade and promoting economic growth.
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iCustoms is an all-in-one solution helping businesses automate customs processes more efficiently. With AI-powered and machine-learning capabilities, iCustoms is designed to streamline your all customs procedures in a few minutes, cut additional costs and save time.