VATupdate

Customs news: Prepare for important changes

Some countries within the EUROMED region (Europe and the Mediterranean region), which allow each other zero-duty trade on the basis of preferential origin, are adopting more modern rules of origin, referred to as “transitional”, from September 2021. The EUROMED region’s preferential rules of origin are historically based on the PEM Convention. The transitional rules of origin are more lenient for most types of goods. They are currently applied by around 20 countries, and more countries intend to adopt them in the future.

Source Deloitte

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