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
Due to the change in legislation, non-established sellers of “low-value” goods into Switzerland will be obliged to register for VAT if they generate more than CHF 100,000 (approx. USD 100,000) of sales of low-value goods per year.
Low-value goods are defined as imports where the VAT charge does not exceed CHF 5. At the currently applicable Swiss VAT rates these are shipments of CHF 65 at the standard VAT rate of 7.7%, or CHF 200 at the reduced VAT rate of 2.5%. Import VAT and customs duties are not levied upon the importation of goods if the amount of import VAT does not exceed CHF 5. Continue reading
Moving goods across the borders is the daily business for many companies and an integrated part of their current processes. In our consulting work, we have seen that the customs operations is often handled without proper due diligence. Continue reading
The US has announced safeguard measures in the form of additional duties on imports of certain steel and aluminum products into the US. At the moment the implementation of these additional duties for products from the EU is postponed until June 1st 2018. As a counter measure, last week the EU published a commission implementing regulation: (EU) 2018/724. Continue reading
Determining the customs value of goods is a challenge at the best of times – and even more so in the wake of a recent European Court of Justice decision jeopardising the practice of determining customs values on the basis of transfer prices. We have decided to hold a free webinar to help you tackle the inherent conflict. Continue reading