In the context of BPM6; Compilation practices

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Presentation transcript:

In the context of BPM6; Compilation practices Bank of Albania Goods for processing In the context of BPM6; Compilation practices Iris Mele Head of BoP Unit Bank of Albania Workshop on ITSS, Luxembourg, 2-3 June 2015

Introduction Goods for processing are defined as raw materials or semi-processed goods belonging to the principal enterprise in country A which are send to the contractor (i.e. manufacturing enterprise) in country B for significant transformation and then returned to the original unit in country A Goods sent abroad for processing without change of ownership (physical inputs owned by others) New type of service – Manufacturing service on physical inputs owned by others Impact on BOP aggregates: trade in goods deficit (in case of Albania) and change in trade in services balance

Measurement Manufacturing services on physical inputs owned by others Credit Debit -Goods for processing in reporting economy – Inward Processing Goods received Goods returned -Goods for processing abroad – Outward Processing Goods sent Value of manufacturing services on physical inputs owned by others should be collected from enterprise data at detailed level, net recording method (processing fee) Current method: gross recording method as the difference of processed goods Data from both methods should be cross - checked (manufacturing services is not necessarily equal to the difference in goods sent abroad and returned after processing, but should be broadly in line)

Data source Customs database (inward and outward processing) System declarations codes = the nature of the goods transaction. Inward and outward processing defined as customs procedures. Goods for processing are exempt from certain taxes. Four digits - first two digits, on-going procedure - last two digits, previous procedure Favorable tariff treatment - 41- goods for processing under drawback system - 51- goods for processing under suspension system Time limit

Inward processing

Outward processing

Calculation of processing fee in BoP Manufacturing services on physical inputs owned by others Credit (3141+3151) - (5100+5171+5178+4100+4171+4178) Debit 6121 Goods for processing in reporting economy 3141+3151 5100+5171+5178+4100+4171+4178 -Goods for processing abroad 2100+2151 6121+2100+2151 Outward processing-In the customs declaration is declared the service fee to the goods, not the value of the goods

Conclusions Expert of PP on ITSS advised: BoA has to find a better solution estimating processing fee credits In a short or medium term, conduction of a regular survey on manufacture enterprises in collaboration with INSTAT and Customs. Data availability in customs database by geographical breakdown

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