Customs duty reliefs such as OPR come with strings attached. From authorisation, reporting, recording, measuring, among other things, traders have to meet a whole range of obligations to benefit from a duty relief. When they fail to meet their obligations, duty is due and collected, possible over many years.
The EU Carbon Border Adjustment Mechanism (CBAM) nicknamed Carbon Tax, is a set of new regulatory obligations with a new tax on certain goods at import in the EU. In this article, we look at the intricacies of the EU Carbon Border Adjustment Mechanism (CBAM) before providing insights and tips to importers and exporters operatingContinue reading “EU Carbon Tax & Customs Obligations”
Free Trade Agreements (FTA) are the results of negotiations between two countries. They therefore reflect the trading choices of both party. As a consequences, FTA are usually different from each other. However, most EU agreements have a common provisions.
Knowing the common provision to EU agreements is very useful when analysing the impact of a trade agreement on your trade flow
Value Added Tax (VAT) is applied to nearly all goods and services imported and sold for use in the EU. EU import VAT rates vary depending on the country of import.
An SME with a well established product was struggling with their international strategy focusing on Australia the current financial year and Brazil the next. A review of this strategy, uncovered that Brazil had introduced, for one year only, a temporary reduction of import duty rates affecting their type of product.