European Commission Modernizes EU Customs Procedures
The act includes simplifications of the customs procedure which allow customs decisions and authorizations to be valid across the European Union. It establishes common data requirements to facilitate the exchange of information among Member States and improvements in risk management in the fight against smuggling, terrorism, and other criminal activities. The act also revamps the rules for processing of non-EU goods without payment of import duty to support creation of added value in the EU.
The act will now be considered by the European Parliament and the Council. Both can raise objections within two months.
The Commission has been working for several years on a major overhaul of customs rules in the EU. Detailed acts must subsequently be adopted so that the new rules can be applied as of May 2016.
“A modern and cost-effective customs system facilitates international trade and is conducive to growth,” said Pierre Moscovici, EU Commissioner for Economic and Financial Affairs, Taxation and Customs. “It also plays a vital role in defending the safety and security of European citizens and in protecting Member States’ interests.”
EU customs handles 16 percent of world trade, or over two billion tons of goods a year with a value of $3.7 trillion.