Tariff Stop Press Notice - 20 January 2025

Update on Currency Code for Venezuela from 1st February 2025.

From: : HM Revenue & Customs

Published : 20 January 2025

Contents

1. Update on Currency Code for Venezuela from 1st February 2025:

Update on Currency Code for Venezuela from 1st February 2025:

Following the recent change in the Venezuelan currency from the Venezuelan Bolivar Fuerte (VEF) to the Venezuelan Bolivar Digital (VED), the associated currency code will be changed from 1st February 2025 from VEF to VED.

CDS will not be able to accept the new currency code until a software update currently expected to be delivered in June 2025. In the meantime, please note the following when submitting declarations which include a value in Venezuelan currency:

For goods arriving on or after 1st February 2025, currency codes VEF and VED must not be declared. Values which would have been declared in Venezuelan currency units must instead be manually converted to Sterling using the appropriate exchange rate and declared in GBP. In such cases, the worksheet showing the calculations should be declared by completing document code 9WKS in DE 2/3 with document status code AC. Any pre-lodged declarations for goods arriving on or after 1st February 2025 which include the currency code VEF, will need to be amended before the declaration has arrived.

For Supplementary Declarations with a tax point date prior to 1st June 2024, currency code VEF should continue to be used instead of VED.

Related changes

Prior to delivery of the CDS software update, expected June 2025, the workaround above is also required for currencies from the following countries:

Zimbabwe:

Following the recent change in the Zimbabwean currency from the Zimbabwe Dollar to the Zimbabwe ZIG, the associated currency code will be changed from 1st June 2024 from ZWL to ZWG. CDS will not be able to accept the new currency code until a software update currently expected to be delivered in June 2025. In the meantime, please note the following when submitting declarations which include a value in Zimbabwean currency:

For goods arriving on or after 1st June 2024, currency codes ZWG and ZWL must not be declared. Values which would have been declared in Zimbabwean currency units must instead be manually converted to Sterling using the appropriate exchange rate and declared in GBP. In such cases, the worksheet showing the calculations should be declared by completing document code 9WKS in DE 2/3 with document status code AC.

Sierra Leone:

Following the change in the Sierra Leonean currency, the associated currency code will be changed from 1st March 2023 from SLL to SLE. CDS will not be able to accept the new currency code until a software update currently expected to be delivered in June 2025. In the meantime, please note the following when submitting declarations which include a value in Sierra Leonean currency: For goods arriving on or after 1st March 2023, currency codes SLL and SLE must not be declared. Values which would have been declared in Sierra Leonean currency units must instead be manually converted to Sterling using the appropriate exchange rate and declared in GBP. In such cases, the worksheet showing the calculations should be declared by completing document code 9WKS in DE 2/3 with document status code AC.

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