The EU has announced a proposal for tariff reform! They plan to eliminate the 150 euro tax-free import limit!
The EU proposes to remove the 150 euro tax-free import limit through tariff reform
BusinessDialogue learned that, according to foreign media reports, the European Commission proposed a comprehensive reform of customs duties on Wednesday to cope with the growing volume of cross-border online shopping parcels, the increasing environmental and labor standards, and changes in the geopolitical landscape.
According to the proposal released by the European Commission, the EU will launch a new EU Customs Administration to supervise data centers, which is a single online portal where importers will be able to record all information about their products and supply chains.
Currently, importers need to deal with customs authorities in 27 countries and more than 111 independent websites and IT systems. The new data center will greatly simplify the tariff calculation process for importers.
The report said that the new data center will also reduce paperwork, saving companies 2.7 billion euros ($2.97 billion) in compliance costs annually. At the same time, it also allows customs authorities to reduce processing of each batch of goods and focus more on problem imports and supply chains.
- Attention, according to Amazon’s new regulations, Mexican sellers cannot ship without an RFC tax ID number
- How is the settlement day calculated for Amazon Global Payment Service?
- Seller Must Read! Low-cost Registration Guide for Middle East VAT Tax ID is here!
The new data center will replace the existing customs IT infrastructure of EU member states, which can save them up to 2 billion euros ($2.2 billion) in IT development and operation costs annually.
The data center is expected to open to the e-commerce sector in 2028, and to other importers on a voluntary basis after 2032. From 2038, it will become a mandatory measure for all importers.
The reform also eliminates the threshold for goods valued below 150 euros to be exempt from customs duties. In the future, such parcels entering the EU may be subject to customs duties. The European Commission said that it is expected that 65% of parcels entering the EU are deliberately undervalued or opened to avoid paying customs duties.
In addition, platforms selling goods from non-EU countries will also have to pay customs duties and value-added tax in the future, but the number of categories of customs duties will be reduced from thousands to only four.
BusinessDialogue has learned that currently, this proposal has not been passed and still requires the support of the European Parliament and governments of EU member states.
Editor ✎ Nicole/AMZ123
Disclaimer: This article is copyrighted by BusinessDialogue and may not be reproduced without permission.
Like what you're reading? Subscribe to our top stories.
- DankePay Safe and efficient payment services, opening up new paths for overseas growth | Case studies sharing
- [Stamp Duty] Detailed Explanation of Stamp Duty on Share Transfer and Conversion in Hong Kong Companies
- One article to understand | How to register for a Mexican RFC tax number?
- About how merchants can apply to open a digital currency payment channel web gateway with wefreepay?
- National ports resume fast customs clearance, making local business in Hong Kong more convenient! Please see here for detailed procedures and precautions!
- Amazon may officially enter the NFT field! Wefreepay continues to open up Bitcoin payment channels for merchants
- Saiyi News | Meicuo Duo 62% of Mexican consumers are accustomed to searching for products online