WHAT INCOTERMS YIELD?
Each acronym codified in Incoterms clearly defines who should bear the costs and responsibilities for each part of transportation and customs…
WHEN DO WE TALK ABOUT THE GREEN CHANNEL?
The green channel is a customs system that allows rapid customs clearance of goods through simplified procedures.
WHAT IS CARNET ATA?
ATA CARNET AND TEMPORARY IMPORTATION When the goods are to be destined for temporary use abroad with a view to a future reintroduction into the national territory, a temporary export (DDAT) may be carried out. The main goods for which this scheme is applied are:...WHAT IS T1?
T1 (NCTS) is a computer document issued by one customs (Departure Office) and destined for another customs (Destination Office). T1 is assigned a number called MRN (Movement Reference Number), which is unique throughout the European Union and recognizable throughout...WHAT ARE EXCISE TAXES?
Excise taxes are taxes levied on products such as alcohol, petroleum and tobacco. They apply to EU and imported products and are regulated by EU law. Excise goods must be stored in excise tax warehouses.
WHAT IS A DUTY-FREE IMPORT?
Duty-free importation occurs when goods are imported without payment of customs fees. The “relief” of customs charges may result from special rules such as those governing the import of goods destined for: – diplomatic posts; – state offices;...WHAT IS THE CITES?
CITES stands for the Convention on International Trade in Endangered Species of Wild Fauna and Flora signed in Washington in 1975-hence the more common way of identifying it as the Washington Convention-and regulates the trade and transport of these particular...WHAT IS VAT?
VAT means Value Added Tax. This is a tax that applies to goods, commodities, products of nature and raw materials released for consumption in a given member state of the European Union. VAT is levied in the member state where the goods are to be released for...IS THE WARRANT NECESSARY FOR THE ISSUANCE OF EUR1?
With regard to the issuance of the Certificate of Circulation of Goods “EUR 1″, if conditions permit, it is necessary for the customs operator to have a special mandate from the exporting company to issue and sign in his own name but on behalf of the obligated...WHAT IS A TRANSIT?
Transit is a customs operation secured by the prior filing of a special surety bond covering customs duties. When a shipment under customs control needs to be moved from one point to another in the European Union, it is escorted by a T1 (External Community Transit) or...WHAT DOES EORI MEAN?
EORI – Economic Operators Registration and Identification This is the European Unified Customs Numbering System for the registration and identification of economic operators. The identification number consists of the state abbreviation and data in alphanumeric...WHAT DOES AEO MEAN?
AEO (Authorized Economic Operator) status is granted following a special assessment by the Customs Agency, which provides evidence of compliance with customs requirements, accounting system criteria and financial solvency. The economic operator is not obliged to...SOME SPECIFICS ON VAT CEILING AND DECLARATION OF INTENT
Each perfected export (see ECS) creates a VAT credit from the exporter to the state. On balance, this would result in a physical disbursement of money by the state administration to the VAT creditor. To avoid this, the Italian state established the VAT Plafond...WHEN ARE GOODS TO BE CONSIDERED COMMERCIAL?
Imposition of tradable goods for final importation Marketable goods are goods intended for resale or commercial use, including at the traveler’s business. Goods intended for final import into the Swiss customs territory must be presented to a Swiss customs...WHAT IS THE WASHINGTON DECLARATION?
When the species or product being shipped is not part of the lists prepared by the Convention, a self-certification declaration, commonly referred to as the Washington Declaration, can be provided.EU CUSTOMS CLEARANCE OR CONVENTIONAL IMPORT?
WHAT ADVANTAGES AND DISADVANTAGES DOES EU CUSTOMS CLEARANCE OFFER OVER CONVENTIONAL IMPORT INTO THE EU? Advantages: If a European company imports goods from a third country (e.g. Switzerland) in a conventional way and declares these goods for “free...WHAT ARE THE STATEMENTS THAT THE ITALIAN SUPPLIER IS REQUIRED TO MAKE?
Another crucial aspect concerns the declarations that the exporter is required to make regarding the goods subject to customs clearance. In the first instance, it would always be a good idea to check with your Customs Broker for the correctness of the Customs Item...WHAT ARE THE VARIOUS CUSTOMS CLEARANCE PROCEDURES IN THE EU?
There are basically two customs clearance procedures that apply to both import and export: – The Standard Assessment Procedure (also known as “in line,” with the goods at the customs premises), which is carried out according to the following flow:...WHAT IS A SINGLE CUSTOMS OFFICE?
This is the Italian office that combines the functions of the Customs Offices with those of the Technical Offices of Finance (UTF) dealing with both the customs and excise duties.FOR WHICH ENTERPRISES MIGHT EU CUSTOMS CLEARANCE BE PARTICULARLY ATTRACTIVE?
EU customs clearance is of particular interest to Swiss companies exporting goods to many EU states. Registration for business tax purposes (i.e., representation by a fiscal representative) must be done in an EU country that borders Switzerland. Tax registration...WHAT IS A “SUPPLIER’S STATEMENT”?
The EUR 1 movement certificate shall be accompanied by the application for its issuance, which the operator shall sign, stating the reasons why he considers the goods declared to be of preferential origin. The firm signing the declaration undertakes, in all respects,...WHAT ARE THE RESPONSIBILITIES OF THE PRINCIPAL?
The principal is liable for his own errors and omissions, as well as those of his appointees, particularly for the resulting consequences: – By packaging that does not conform to the agreed transport requirements – by inaccurate, imprecise or missing...WHAT IS A FORM A?
FORM A is a certificate of origin that is used in trade between the European Union and developing countries (DCs) that are listed. With FORM A, the developing country certifies that the goods are of its origin and production so as to fully or partially exempt the...WHAT IS ATR?
The ATR is a certificate provided for in the European Union-Turkey agreement and is issued to certify that the goods described in the form are in free circulation so that duty payment can be waived. The exemption applies to shipments from the European Union to Turkey...TAX LAW
WHAT TAX LAW CONSEQUENCES REGARDING BUSINESS TAX ARISE FROM EU CUSTOMS CLEARANCE? We will try to clarify the tax law consequences related to the business tax of an EU customs clearance based on the following example. Example: Swiss supplier A is registered in Germany...- Ecological Sustainability 2024
- Story of an entrepreneurial dream
- Obtaining D&B Rating Certificate 2024
- Tepoorten Group: A leading player in international freight forwarding
- SA Luciano Franzosini: 95 years of history!
- Franzosini & Butti now also in Felixstowe
- Opening of a new branch in the UK to facilitate post-Brexit customs clearance operations
- Obtaining D&B Rating Certificate
- Young people and the future
- naturemade energy certification
