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Further facilitating border trade

By Bufete Mejía & Asociados - 28/09/2020

The customs authorities of Honduras and Guatemala will implement new strategies to facilitate and expedite trade within the framework of the customs union launched in 2017 by both countries.

In a statement, the Presidency of Honduras affirmed that meetings are being held between both parties to "strengthen technical work as part of a deep integration.”

Among the discussed topics is the Anticipated Import Declaration (DAI) which allows the entire process of loading documentation, transmission of information and payment of tax obligations to be carried out in advance, speeding up the merchandise clearance process.

"We are pleased to see the progress of facilitation actions framed in the customs union, something unprecedented in Central America continent and the most efficient form of integration between two nations," the statement added.

In 2017 Honduras and Guatemala launched a comprehensive solution to address trade bottlenecks at the border.  As a result, the Customs Union was born. The aim was to facilitate trade between both countries, speeding it up and lowering its cost.

Under the Customs Union, companies are now only required to visit one single customs post and carry out a single procedure to trade across the border. Previously, clearing a shipment required completing duplicate manual procedures and paperwork on both sides of the border. The Customs Union replaced this onerous process with a single online instrument called FYDUCA (Central American Invoice and Declaration). At the border, a digital reader device instantly scans a FYDUCA QR code and quickly certifies—online—whether or not an importer already paid the value-added tax on the goods in the destination country. 

By Bufete Mejía & Asociados - 28/09/2020
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Bufete Mejía & Asociados

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Our Firm has been identified as the best IP firm in Honduras by the prestigious publication Latin Lawyer for the last five years.