EU Customs Reform: Impact on E-Commerce Platforms and Global Trade

• The European Commission has proposed comprehensive reforms to the EU Customs Union.
• The proposals aim to safeguard the EU market, collect customs duties effectively, and facilitate legitimate trade.
• The customs duty exemption for low-value consignments may be abolished, and a simplified tariff system may be introduced for consignments below €1,000.
• E-commerce platforms will be designated as “deemed importers” and will be responsible for customs clearance procedures.
• Platforms will need to calculate and remit customs duties on all business-to-consumer sales of imported goods.
• Customs debt will be incurred upon payment acceptance, but only for goods that physically arrive in the EU customs territory.
• Platform operators will need to categorize each product for customs purposes to determine the applicable duty rate.
• The customs duty exemption for consignments valued below €150 may be abolished to prevent undervaluation of shipments.

Source: forbes.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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