- 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
Click on the logo to visit the website
Latest Posts in "European Union"
- From Accounting Entry to Taxable Event: The Acromet Case and VAT-TP Implications
- DG TAXUD Extends ICS2 Road and Rail Transport Deadline to December 31, 2025
- Potential VAT Changes for Travel Businesses: UK and EU TOMS Reforms, New Platform Rules
- EU Report Highlights Need for Enhanced Customs Controls Amid E-Commerce Growth and Non-Compliance
- Recent ECJ/General Court VAT Jurisprudence and Implications for EU Compliance (Jul–Aug 2025)
