What are preferential agreements? The European Union (EU) and its predecessor, the European Community (EC), have concluded so-called preferential agreements with numerous countries or groups of countries. Customs concessions (preferences) were agreed in these preferential agreements. This means that imports into a country with which such an agreement has been concluded can be made duty-free or at least at reduced duty. The prerequisite is that the goods meet certain rules of origin that are set out in the preferential agreement. Depending on the level of customs duty, preferential origin can lead to a significant competitive advantage because higher sales prices can be offset in this way. In addition, foreign customers often request preferential origin. As proof that the goods meet these rules of origin, preferential evidence (movement certificate EUR.1, EUR-MED or declaration of origin on the invoice) must be presented upon import.
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Customs Bond 101: Part 5 Insufficient customs bonds can be an import deal breaker when attempting to import your goods across the country’s borders. A customs bond can be deemed insufficient for many reasons. Learn the reasons behind an insufficient bond, how to avoid getting one, and how to remedy the situation by following our insufficient customs bond guide here: http://ow.ly/j2eH50HEEfq
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Customs legal cases and judgments are a great way to understand the logic and thinking behind customs rules and practices. The recent Court of Justice of the European Union (CJEU) judgment delivered on 11 April 2024 in Case C-770/22 OSTP Italy Srl answers the question of whether, in the event of a dispute with customs, the collection of import duties is suspended until the outcome of the proceedings is known. Article 45 of the UCC establishes the right of an importer to lodge an appeal against any customs decision relating to the application of customs legislation. But such proceedings take time, sometimes even years, if the case goes all the way to the CJEU. While the dispute is ongoing, should the importer be expected to pay the total amount of customs duties in question? Or can this amount be suspended until the outcome is determined? The answers to these questions can have significant cashflow implications for businesses. And to a certain extent, it depends on the EU Member State national legislation. Find out more in the recent Customs Compliance and Risk Management Journal article by Dr. Aiste Medeliene “Is payment of customs duties suspended if a dispute is brought before a court?” https://lnkd.in/dPMfRAPx #legalcase #customs #duty #CCRMjournal #CustomsClear
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Seeks to impose Anti-dumping duty on import of 'Pentaerythritol' from China PR, Saudi Arabia and Taiwan for 5 years, pursuant to final findings issued by DGTR: MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION NO. 08/2024-Customs (ADD) New Delhi, the 16th May, 2024 G.S.R. 278 (E) . Whereas, in the matter of Pentaerythritol (hereinafter referred to as the subject goods), falling under tariff item 2905 42 90 of the First Schedule of the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act), originating in, or exported from China PR, Saudi Arabia and Taiwan (hereinafter referred to as the subject countries) and ... ... ... http://dlvr.it/T70dnV #Customs #Notifications #TaxLaws #TaxTMI
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Day 15: The Role of Customs Brokers in International Trade Customs brokers help importers and exporters comply with customs regulations. They prepare paperwork, calculate duties and taxes, and ensure shipments clear customs without delays. In Canada, customs brokers are essential for international trade, ensuring goods move smoothly across borders. #CustomsBroker #InternationalTrade #BorderManagement
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The World Customs Organization supports and guides customs agencies from different countries in order to build a better interconnected global community through trade. Albeit the infamous belief that foreign goods may hurt them, local economies are actually boosted through global trade. The WCO envisions a “safer and more prosperous world” through fair and beneficial global trade. All over the world, integrous and diligent customs agents work hard to fulfil this great vision. They manage the flow of goods and collect tariffs for imports and exports. International Customs Day is the day to celebrate these customs officers for all their hard work in keeping global trade up and running. #importcustomsclearance #exportcustomsclearance #Customsclearance #Customsbroker #Customs #goldenbalcony
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Having a smooth import process is key for businesses that deal with international trade. A US Customs Broker can help you navigate the complexities of customs regulations and ensure your shipments get cleared quickly and efficiently ✅ In this video, we tell you more on the advantages of our US Customs Broker service and what it includes ▶️🇺🇸 Watch the full video here: https://lnkd.in/gPH_KxqX #GONTOR #trustmadelogistics #uscustomsbroker #internationaltrade #customscompliance #miniclip
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Movement certificate A.TR In the customs union between the European Union (EU) and Turkey, shipments of goods are usually accompanied by the movement certificate A.TR. The presentation of the A.TR ensures that goods can be imported duty-free in both areas of the customs union. The A.TR proves that the goods covered by it are in free circulation (free circulation status). The origin of the goods, however, is not important. Excepted are goods that do not fall under the customs union: agricultural products and certain iron and steel products, primarily in Chapter 72 of the customs tariff.
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EU-Turkey supplier declarations If, in addition to the free trade status, proof of preferential origin is also required in order, for example, to be able to deliver originating goods to other countries duty-free or to be able to issue a supplier declaration in accordance with the Union Customs Code for deliveries within the EU, a special supplier declaration must be completed by the supplier in addition to the A.TR. According to Decision No. 1/2006 of the Customs Cooperation Committee “European Community-Turkey”, these supplier declarations (not barrier-free, PDF file · 31 KB) or long-term supplier declarations (not barrier-free, PDF file · 31 KB) must be provided with additional cumulation notes. The forms are available for download. Goods of Turkish origin can be delivered from the EU to the participating states of the Pan-Euro-Med zone at reduced customs rates. These supplier declarations can be used to avoid additional customs duties, as described under 4, for preferential goods originating in the EU or the Pan-Med countries.
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🌍 S&A’s Tip of the Week: Claim Preferential Origin to Save on Duties! Did you know that if your goods qualify for preferential origin, you can reduce or even eliminate customs duties? We have listed a few ways that you can check to see if your goods qualify for preferential origin in our document. ✅ Tip: Check if your products meet the origin criteria under trade agreements, such as the UK-EU Trade and Cooperation Agreement. Make sure to keep documentation (like suppliers' declarations) to support your claim. Don’t miss out on potential savings! Got questions about preferential origin? Drop them in the comments! #ImportTips #PreferentialOrigin #CustomsDuty #SupplyChainSuccess
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