Royalties and license fees dutiable under new EU Uniform Customs Code

Royalties and license fees dutiable under new EU Uniform Customs Code

Uniform Customs Code entered into force on 30 October 2013,but its substantive provisions will apply only on 1 May 2016, and would replace the current Community Customs Code.

The new Code will introduce unified rules and procedures for customs throughout the EU, including new customs treatment of royalties and license fees.

Under the current customs law, many royalties and license fees are not included in the customs value. As proposed, the process for determining the transaction value would be amended so that royalties more often would be included in the customs value. This change would increase the import duty burden for EU importers.

The European Commission still needs to finalize the procedural rules for determining the customs value and it is expected to provide greater certainty with regard to the customs treatment of royalties and license fees in the first half of 2014.

Among other improvements that will be introduced with the new Code are measures to complete the shift by Customs to a paperless, fully electronic environment no later than 31 December 2020 and provisions to reinforce swifter Customs procedures for reliable traders.

 

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