FTA Criticises New EU Customs Regulation which Increases Costs for Businesses and Consumers

04-07-2014

FTA has drafted a Memorandum to demand the restoration of the 'first sale' principle, a long-established element in customs valuation that has been removed in the new Union Customs Code (UCC), applicable as of 1 July 2016.

This principle provides businesses the possibility to use prices of earlier sales in the supply chain as a basis for customs valuation, provided there is proof these sales are intended for export to the EU. The change in the new UCC may entail considerable increases in customs payments, and therefore in final prices.

'The elimination of this principle has obviously been motivated by fiscal considerations only and will only affect businesses' competitiveness, increasing costs and prices for end consumer', said FTA Director General, Jan Eggert.

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