Cash Export-Import SOP launch to mark World Customs Day
January 26, 2026 10:43 pm | Posted in Business News | Share now TwitterFacebook
By Anita Roberts.
A new Cash Exportation and Importation Standard Operating Procedure (SOP) for financial institutions was launched yesterday to mark World Customs Day.
Developed by the Department of Customs and Inland Revenue (DoCIR), the SOP outlines the process for exporting and importing foreign currencies and Vanuatu vatu by financial institutions at the international airport, in line with Vanuatu’s laws.
The SOP applies to licensed banks and financial institutions operating in Vanuatu that are reporting entities under the Financial Intelligence Unit (FIU) regulations, authorised Cash-In-Transit (CIT) service providers, DoCIR, Airport Security, and other agencies.
Under Customs Border Regulations, the movement of cash into or out of Vanuatu with a value of more than VT1 million is considered a prohibited item unless properly declared and approved.
According to the SOP, cash must be transported by an approved CIT provider or under a strict security escort to the airport.
The document was developed following the country’s first reported armed robbery at the airport last month. It aims to ensure safer handling of cash exports and imports, said Customs Director Harold Tarosa.
Deputy Prime Minister (DPM) and Minister of Finance Johnny Koanapo said the incident is a wake-up call for authorities to be better prepared for evolving criminal activities.
He took the opportunity to commend all customs officers for protecting the country from risks associated with international trade, such as drug smuggling and human trafficking, while also surpassing revenue targets last year.
He told border control officers to carry out their duties with integrity.
In his address, Koanapo, who was also Acting PM, revealed that the government is considering a policy to tax individuals who operate businesses in the country, earn profits, and remit all their money abroad.
He said the policy would ensure that Vanuatu benefits from such financial activities.
He told the Director of Customs to prepare a paper for submission to the Council of Ministers (COM). Director Harold Tarosa said they have yet to consider the type of levy to impose, which will not only apply to the repatriation of foreign exchange earnings from tourism but also from other businesses.
Apart from the new SOP, DoCIR also welcomed new vehicles to help them carry out their services more effectively.
