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Namibia’s Trade Verification System (“TVS”)
NamRA, in collaboration with the Bank of Namibia, recently launched the Trade Verification System (“TVS”), a web-based application integrated with the “AsycudaWorld” customs system, specifically designed to manage and monitor cross-border transactions, ensure the promotion of efficient trade practices and improve tax collection whilst reducing fraud.
Its implementation will enhance proper reconciliation of cross-border money transfers to the movement of goods, corroborated by accelerated reporting and through the use of digitally automated processes, reduce errors and unnecessary delays.
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