EU REFORMS ON CUSTOMS COULD RAISE IMPORT DUTIES ON BRANDED FOODS
November 1st, 2009
BY KEITH NUTHALL
The latest proposed reforms to create a harmonised and modernised EU customs code could increase duties on branded food imported from outside the EU.
They could boost the customs valuation of these goods, inflating ad valorem tariffs; one change would ban the use of the 'first sale for export' for valuations, where importers declare the price a foreign exporter paid to a local supplier before shipping the goods to Europe.
This could be less than the price paid by the eventual European customer, with a correspondingly lower duty.
Another ...
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