- Introduction of Mandatory INF Data Exchange: Companies engaged in cross-border operations must now utilize the electronic INF (Information Sheet) system to submit information when multiple EU Member States are involved. This requirement aims to enhance transparency, although the system currently faces some operational challenges.
- Centralized Application Process via EU Trader Portal: All requests for Inward Processing authorisations must be submitted through the EU Trader Portal, which standardizes and centralizes the application process across the EU, making it easier for businesses to navigate the requirements.
- Stricter Economic Criteria and Internal Controls: Customs authorities will enforce stricter checks to ensure companies meet the economic conditions for using the IP procedure, requiring stronger internal controls and financial guarantees, such as customs bonds. Businesses may need to adjust their internal processes to comply with these updates, promoting more efficient customs operations across the EU.
Source: pincvision.com
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