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THE THREE UPCOMING REGULATORY CHANGES IN EUROPE

THE THREE UPCOMING REGULATORY CHANGES IN EUROPE

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It is critically important that your business complies with Customs Regulations and Clearance processes and that you are aware of the upcoming European Regulatory Changes.

 

OVERVIEW OF THE THREE UPCOMING REGULATORY CHANGES IN EUROPE


1.   JANUARY 2021

BREXIT: The United Kingdom has left the EU, and the transition period after Brexit comes to an end. Will result in the need for a Customs Declaration for all shMARCH 2021

 


2.   MARCH 2021

ICS2 (Import Control System 2): ICS is the electronic security declaration management system for goods destined for the European Union Customs territory (either final destination or just transiting within the EU) Will result in the need for certain data elements to be sent to the EU Customs authorities – prior to loading in the country of export on a flight into or transiting the EU, Norway or Switzerlandipments from EU to UK and UK to EU

 


3.  JULY 2021

VAT De Minimis Removal: The EU will abolish De Minimis levels for imports into the EU (currently EUR 22* in the majority of the EU Member States) Will result in the requirement of formal Customs declaration for all inbound EU shipments

* EUR 22 De Minimis: Please note that in certain EU Member States (e.g. BG), the De Minimis value is €10 (instead of €22); other EU Member States (i.e. PL, FR, SE) have already decided to curb the use of this exemption to certain (mail) orders or in whole.

 

 

 

 

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