The new European Union Customs Code (and subsequent amendments), the new customs legislation officially entered into force in May 2016 has undergone substantial changes. errek Trento srl CAD can provide support to any clients that may need to identify the correct customs regime applicable to them.
Imports – Release for free circulation
Through this procedure, extra-EU goods acquire the customs status of EU goods and thus can subsequently move freely within the European Union.
Release for free circulation requires a declaration of binding application to said regime (the so-called “customs import bill”).
Customs clearance transactions call for a number of activities to be carried out in close cooperation with the Customs Agency:
The application of trade policy measures (correct product classification, verification of import licenses, absence of prohibitions, calculation of value, existence and capacity of quotas, etc.);
The use of third parties to carry out the formalities required to import specific types of goods (health inspections, phytosanitary inspections, veterinary inspections, etc.);
The application of duties as established by the European Union legislation.
When the goods are released for free circulation – if also the applicable internal taxation procedures are carried out in the country – they can also be released for use, thus turning into a customs import transaction.
Our company can provide all the necessary assistance to clients to receive their goods in compliance with the regulations in force.
Exports
The export regime is applicable in all those cases where the goods are shipped outside the EU.
The exporter must submit the goods and related export declaration and, where required, specific authorizations or licenses to the customs office of export. According to Article 221, page 2 of the European Regulation No. 2015/2447 (RE), the competent customs office is the one where the exporter is located or where the goods are packaged or loaded for export.
The customs declaration must be transmitted electronically to the customs office of export.
The new IT rules introduced over the years by the Customs and Monopolies Agency allow all customs transactions to be tracked through an individual movement reference number (M.R.N.) issued for each one of them.
Only after the submission of the goods and their Export Accompanying Document, the EU customs office of export can certify the export. This allows the business to prove that the export has taken place and, therefore, justify that taxes are not applicable on the invoice issued.
Our company can carry out the procedures needed to fulfill all the customs transactions directly at the customer’s premises without the need to bring the goods in the spaces allocated in front of the Customs Offices.
If the goods fail to leave the EU or if an administrative audit is called for, or customs corrections are needed, our staff is available to support the customer in resolving the issue.
THE MOST CONVENIENT CUSTOMS REGIME
What is the most convenient customs regime for your business?
Errek Trento srl CAD is ready to help its customers through a complete assessment based on the specific needs to identify the most convenient applicable customs regime.
Special Customs Regimes
Transit, Customs Warehousing and Free Zones, Temporary Admission, End-Use, Inward and Outward Processing are the so-called special customs regimes established by the law.
Each business can, if the requirements are met, make use of one of them or a combination of them to best protect their interests. Access to these customs regimes is allowed with the prior authorization of the tax authorities and, in some cases, through payment of a specific guarantee.
Transit
The term transit refers to Union/Community Transit representing a customs suspensive regime. This procedure allows moving goods, under customs control, between two customs points in the European Union (in the case of Union Transit) or between the EU, Turkey, the Republic of Macedonia, Serbia and the EFTA countries.
Customs Warehousing
Customs warehousing is a customs suspensive and economic regime since it allows, following a specific authorization issued by the Customs Authority and upon payment of a specific guarantee, to suspend payment of duties on goods stored pending the finalization of their classification by customs.
It is a building where goods can be stored without being subject to applicable taxes.
Temporary admission
A temporary admission customs regime allows for the temporary importation of extra-EU goods with total or partial relief from customs duties (duty and VAT). The goods in temporary admission must be re-exported without having undergone any modifications (only natural depreciation depending on the use made is accepted).
If the goods are not subsequently re-exported, the transaction can be finalized through the nationalization of the goods: relevant duties, VAT and interest due must be paid at this point.
The purpose of this particular customs regime is to facilitate international exchange and the movement of instruments, equipment and goods for economic and non-economic purposes.
Inward processing
An inward processing regime allows importing extra-EU goods without payment of duties. The goods must be intended for further processing within the EU and to be subsequently re-exported outside the EU in the form of compensating products.
When extra-EU goods are imported, duties, excise duties and, of course, VAT must be paid. These costs end up being added to the final cost of the products to be manufactured.
Through the inward processing customs suspensive regime, EU companies exporting goods benefit when they manufacture the goods within the EU as they do not have to bear any extra costs. Thus, they can remain competitive on international markets.
Outward processing
Differently from the inward processing regime, the outward processing regime allows goods to be exported temporarily from the EU customs point for processing and then re-imported, with total/partial relief from import duties.
The aim of this regime is to enable European companies to carry out processing outside the EU at a lower labor cost than in Europe, or to benefit from more advanced technologies.
