Following an amendment to the Union Customs Code Delegated Regulation (EU) 2015/2446, it will be possible from 1 January 2021 to declare goods up to 150 € using a customs declaration that requires 3 times less data than a standard declaration.
From 1 January 2021 the existing VAT exemption for goods up to 22 € will disappear. In order to allow VAT to be levied, all imports into the EU will have to be declared at the border using an electronic customs declaration.
Considering the enormous volume of low-value consignments imported into the EU, neither declarants nor customs IT systems can handle the production and processing of a standard customs declaration per consignment and in any event a standard customs declaration is not necessary in most of the cases because there is no customs liability for goods of a value below 150€.
Therefore, the Commission has amended the UCC Delegated Regulation to provide for a lower, more manageable but still adequate level of data (a “super-reduced data set”) in customs declarations on imports of low-value consignments (those below the threshold for application of customs duties of 150€). This legislation should mitigate, for both customs and traders, the impact of the sharp increase in the number of customs declarations.
This is an important step forward and allows Member States and economic operators to go ahead with their IT developments.
In the middle of trade wars, increased protectionism and a virus effecting global trade, we celebrate the third anniversary of the WTO Trade Facilitation Agreement that sees an increasing implementation rate. There is hope.
Three years since the Trade Facilitation Agreement (TFA) entered into force on 22 February 2017, WTO members have continued to make steady progress in its implementation. Director-General Roberto Azevêdo, on the occasion of the TFA’s third anniversary, welcomed members’ efforts to ensure traders can reap the full benefits of the Agreement.
The TFA, the first multilateral deal concluded in the 25-year history of the WTO, contains members’ commitments to expedite the movement, release and clearance of goods across borders. As of the TFA’s third anniversary, 91% of the membership have already ratified the Agreement. It entered into force three years ago when the WTO obtained the two-thirds acceptance of the Agreement from its 164 members.
“Through this landmark reform, WTO members are working to ensure that the global trading system creates more prosperity for people,” Director-General Roberto Azevêdo said. “Delivering easier and faster trade through the TFA is a bright spot in international economic relations. WTO members are building upon the Agreement with continued cooperation and commitment.”
You can read the entire article here: Third anniversary of Trade Facilitation Agreement sees increasing implementation rate
Another Monday. New projects and new meetings. Three countries this week.
It is always exiting to see where the week will take you.