The cash-free import VAT settlement, as a result of the simplified procedure, will be limited from 1 May 2019. The end of April 2019 is the limit date for the reassessment of permits to use the simplified procedure. The need for their re-verification resulted from the introduction of the EU Customs Code (UCC) instead of the previously applicable Community Customs Code (CCC). Continue reading
In 2016 as a part of the trade facilitation measure, Central Board of Excise and Customs (CBEC) had notified1 a revised Authorised Economic Operator (AEO) programme. The revised programme merged erstwhile Accredited Client programme and AEO programme. Continue reading
Hungary is the country with the highest VAT rate (27% standard rate) within EU. In case of a business model where the importation of the goods cause negative cash flow effect due to high recovery position of import VAT one should be proactively thinking to get a license for importation self-assessment. It’s a license that can be obtained from the National Tax and Customs Authority by companies if they meet the following requirements: Continue reading
The Brazilian Program for Authorized Economic Operators (AEO) was set forth by the Federal Revenue’s Normative Instruction n.1,521/2014. The program will certify international trade stakeholders providing they can present low operational risks, concerning both cargo physical security and tax and customs compliance.
Those certified as Authorized Economic Operators may benefit from several operational preferences, including being able to use the AEO seal, which states the company’s reliability before clients and authorities. Continue reading