On 1 May 2016, the European Union’s (EU) new customs regulation, the Union Customs Code (UCC), will come into effect. The implementing regulations of the UCC, the so-called Implementing Act and the Delegated Act, were published on December 29, 2015. The UCC and its implementing acts are based on an e-Customs philosophy, whereby it should be noted that the ICT (Information and Communication Technology) framework, which is the backbone of the new EU customs framework, for the most part still needs to be developed. The planned completion date of the ICT framework is December 2020.
Although the fundamental principles of EU customs law will not change, there are a number of amendments that could have a (significant) impact on a business’ daily routine – for example, changes relating to the customs value, the (new) definition of exporter, inward processing, non-preferential origin and binding tariff information just to name a few.
Our presenters discuss the background of the UCC, the main changes, pending questions and the opportunities and challenges businesses will have to face.
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