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UK to implement Advance Valuation Rulings (“AVR”) for Customs Valuation of imports

As part of its slate of Customs measures announced for the Spring Budget 2023, the UK government confirmed yesterday, March 15, that AVRs will soon be a feature of the UK Customs regime. The long awaited mechanism will allow for legally binding rulings on the Customs Valuation methodology for the specified goods in a particular scenario, for a period of three years (subject to cancellation or withdrawal).

Source Interational Trade Compliance update

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