Customs administration on trading after Brexit
On its website, the customs administration (i.e. the General Customs Directorate or GCD) has issued information on the practical aspects of trading after a no-deal Brexit.
Corporations should take into account the share of goods that will be subject to customs procedures when delivering or acquiring goods to or from Great Britain. Where necessary, they should also reassess and adjust business terms and conditions to cover potential future customs and tax obligations and related implications.
It will also be necessary to identify the imported goods and allocate appropriate customs classification codes to them, as this will be decisive for any potential import restrictions or prohibitions, customs tariffs, and requirements for import permits and licences.
Trading companies will also have to acquaint themselves with the course of customs proceedings and procedures applied when completing customs declarations and calculating customs values. They will also have to choose among individual customs regimes. To facilitate the entire process, they may ask the customs authority to give them permission to communicate with the authority electronically.
Corporations that have not yet been importing goods to EU territory will have to prepare themselves for necessary steps connected with importing goods from the United Kingdom. First, they will have to apply for an EORI (Economic Operator Registration and Identification) number, which is necessary for communication with customs authorities.
Customs debt may arise when importing goods falling under other than a zero tax tariff. Should this happen, it is recommended that a customs security be requested and any potential customs debt be covered by a customs guarantee. In the conclusion of its website information, the GCD contemplates no-deal Brexit implications for normal life, especially travel and internet shopping.