On February 3, 2021, the Agreement on the mechanism of traceability of goods imported to the customs territory of the Eurasian Economic Union entered into force. The basis of the goods traceability mechanism is the documentary accounting of goods, which shall be achieved by creating national system of goods traceability in each country-member of the EAEU, which in the future will serve as the national segment of the goods traceability system created within the EAEU. It is assumed that countries will collect data from accompanying documents and exchange them to monitor the movement of certain groups of goods. The introduction of such a traceability system will make it possible to create conditions that exclude the use of various schemes for evading the payment of customs payments and taxes, to confirm the legality of the turnover of goods when they are moved from the territory of one EAEU member state to the territory of another, and also to ensure control over transactions related to the turnover of goods.
Originally published 15 February 2021.
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