Last Updated on November 27, 2023 by Elidge Staff

Public Notice: NamRA Trade Verification System (TVS) to Revolutionize Namibia’s Trade Landscape

Public Notice: 30 October 2023

The NamRA Trade Verification System (TVS) is a web-based platform designed to bring efficiency, compliance, and growth to Namibia’s trade operations. The Namibia Revenue Agency (NamRA) is proud to announce the implementation of a groundbreaking initiative that will transform Namibia’s trade landscape. This innovative system is set to revolutionize trade transactions, benefiting Namibia and its users.

A Catalyst for Positive Change (NamRA Trade Verification System)

Implemented on 16 October 2023, NamRA Trade Verification System marks a significant milestone in Namibia’s economic development. By seamlessly integrating customs data with payment data from commercial banks, this transformative tool provides a comprehensive overview of trade transactions. This integration is crucial for enhancing transparency, preventing illicit practices, and streamlining trade operations.

Strategic Partnership for a Secure and Growth-Oriented Trade Environment

NamRA Trade Verification System is the result of a collaborative effort between NamRA and the Bank of Namibia (BON). This strategic partnership underscores the commitment to fostering a secure, compliant, and growth-oriented trade environment in Namibia. Together, they aim to drive positive change and provide a platform that supports the country’s economic growth.

Important System Changes (NamRA Trade Verification System)

To ensure compliance, prevent illicit practices, and streamline trade operations, NamRA has made the following changes to the ASYCUDAWorld System:

• Box 22: Declare transactions in invoice currency (e.g., USD, EUR, GBP, etc.).
• Box 28: Select the Commercial Banking code relating to the inward or outward payment (e.g., FNB, STD, Nedbank, Bank Windhoek, etc.).
• Box 28: Indicate the Terms of Payment of the invoice (e.g., Advance Payment, 30, 60, 90, 120 and 180 days, Cash, No Foreign Payments, etc.).
• Box 28: For Imports, the Shipped-on Board Date can now be selected to ensure the correct Exchange Rate is applied.
• Capture of manual Export UCR when receiving an Advance Payment before exportation of goods. The format consists of (1) Year / (2) Country code / (3) Entity code / (4) EntityType / (5) Reference Type / (6) Reference Number / (7) Scope {S – Single, M – Multiple}. Example: UCR 3NA123456789015TINV000000025B32M.
• Indicate Proforma Invoice number relating to an Advance Payment made before importation or exportation of goods.
• Ability to attach supporting documents and scanned documents.

Important Information for Customs Clearing Agents and Freight Forwards

In light of the new fields added to ASYCUDAWorld, all Customs Clearing Agents and Freight Forwards must take note of the following:

• Delete the SOClassCache found in the Local disk under C: Drive, in the User file.
• Avoid importing the existing XML file created prior to 10 October 2023.

F178 Form Requirement

It is essential to note that the implementation of the NamRA Trade Verification System does not eliminate the requirement of the F178 form. Customs Clearing Agents and Freight Forwards should continue to adhere to the existing procedures and regulations related to the F178 form.

For any queries or further information regarding TVS, please contact the ASYCUDAWorld team at Tel: +264 61 209 2283/2285/2286/2289 or via email at asycudaworld@namra.org.na.

NamRA sincerely appreciates your cooperation and understanding in this regard. Through the Trade Verification System, Namibia is poised to achieve a new era of efficient, compliant, and growth-oriented trade operations.

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