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The Urgent Importance of Compliance and Electronic Data Quality
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The New Year will quickly bring significant modifications to many important Customs regulations. As your International Specialists, we want to help you fully prepare for the potential impact to your business and your customers.
Effective in 2021, there will be three critical changes you need to be aware of:
- BREXIT (January 2021): Will require Customs Declarations for EU-GB-EU shipments. Affects shipments from the European Union to Great Britain and from Great Britain to the European Union.
- ICS2 Import Control System (March 2021): The enhancement of the Security screening program will require certain data elements be sent to the EU customs authorities for review and approval - prior to loading at the country of export. Affects shipments from everywhere in the world to (or transiting) the European Union including shipments to Norway and Switzerland.
- VAT De Minimis Removal (July 2021): The abolition of the 22 Euros VAT De Minimis for imports into EU Resulting in formal customs clearance for all Inbound EU shipments and levying VAT. Affects shipments from everywhere in the world to the European Union.
With these changes, Customs authorities are further enforcing the regulatory requirements related to the provision of complete & accurate customs data in order to optimize security & safety screening, as well as combat counterfeiting and piracy, prevent unfair competition and ensure full collection of duties and taxes.
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