hit tracker
Saturday, February 24, 2024
HomeLatest NewsBrussels demands that imports of less than 150 euros pay customs

Brussels demands that imports of less than 150 euros pay customs

Date: February 24, 2024 Time: 08:03:52

A new step towards the European customs policy. The European Commission has put on the table this Wednesday its proposal to reform the customs union, which also proposes taxing merchandise worth less than 150 euros -until now exempt from customs duties-, and the creation of a new data center to prevent fraud and simplify procedures that will be mandatory in 2038 for all companies that want to import into the European Union.

Up to 65% of packages entering the EU are undervalued to avoid import duties, so this review seeks to strengthen customs’ ability to monitor supply chains and intervene when necessary, as well as reduce red tape. necessary administrative and bureaucratic

The reform will bring about a new partnership between customs backed by data-driven AI that massively simplifies or even eliminates the need for customs declarations altogether and a more modern framework for e-commerce that reduces the huge levels of fraud in the sector. and introduce more transparency and peace of mind for consumers.

EU freight costs

Brussels calculates that the data center, which will replace the current IT infrastructure of Member States’ customs, will save them up to the proposed actions, companies will also reduce their compliance costs by 2.7 billion euros a year.

In the current system, there are often several agents who handle the customs procedures for goods entering or leaving the EU, making it difficult to know who is the importer or exporter, while with the new rules each shipment of goods You will be linked to an EU company or person who will be responsible for enforcing duty payments and product rules.

Although some key provisions of the new regulation of the Union Customs Code will apply soon after its adoption, there will be a transition period of 10 to 15 years during which some of the current practices will be maintained, ensuring that the gradual extension of the new model without disturbing customs.

Limited operation for customs data

The customized customs regime for electronic commerce will be applied as of 2028, they will be obliged to do so as of January 1, 2038.

On the other hand, the next step that they will take will be that the legislative proposals will now be obtained from the European Parliament and the Council of the EU so that they can begin negotiations towards an agreement, and the European Economic and Social Committee for consultation.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

Most Popular

Recent Comments