In a detailed session led by Sharon Heron from the NCTS Policy team during the ACITA conference in October 2024, the latest updates to the National Transit Policy (NCTS) were unveiled. These changes aim to enhance customs operations' efficiency, especially for cross-border trade businesses. With the rollout of NCTS Phase 5 (P5), traders must prepare for significant reforms, including the full digitalisation of transit documents and enhanced reporting requirements.
Here’s a breakdown of the key updates and what they mean for businesses: