In the Nov. 25 editions of the Official Journal of the European Union the following trade-related notices were posted:
In the Nov. 20-21 editions of the Official Journal of the European Union the following trade-related notices were posted:
The Netherlands is postponing a change in the definition for “exporter” until April 1, 2020, KPMG said in a Nov. 19 post. In October, the country’s customs authorities said it would “no longer be possible” for a person “not established” within the European Union to act as exporter in the export declaration, the post said. This change will affect companies established outside the EU, because they will be required to designate a person inside the EU to act as the exporter. The Netherlands initially said the change would take effect Dec. 1, but that window was “too short a time frame for many companies,” KPMG said.
The European Commission launched an online portal to provide businesses guidance on verifying actors in their supply chains and to aid with sanctions compliance, the commission said in a Nov. 19 press release. The “Due Diligence Ready!” portal will help businesses “check the sources of the metals and minerals entering their supply chain” and improve due diligence, the commission said. Specifically, the portal will help businesses identify whether their supplies are originating from human rights abusers who may be subject to European sanctions by providing access to training materials, guidance information and due-diligence requirements.
The European Commission will allocate the equivalent of about $250 million to fund 2020 promotion activities for European agricultural goods, with more than half of the funding going toward campaigns promoting exports, the commission said in a Nov. 19 press release. The funding will raise the competitiveness of the European agricultural sector and help during “market disturbances,” the commission said. The commission will target several export markets with “high-growth potential,” including Canada, China, Japan, South Korea, Mexico and the U.S. The Commission said “eligible sectors” include dairy and cheese, olive oil and wine.
Italy introduced two value-added tax-related measures that are expected to be signed into law by Dec. 25, including a measure impacting VAT payments on fuel products in VAT warehouses and a change to the country’s frequent exporters’ scheme, KPMG said in a Nov. 14 alert.
In the Nov. 14 editions of the Official Journal of the European Union the following trade-related notices were posted:
The United Kingdom's Office of Financial Sanctions Implementation updated its sanctions guidance for Venezuela with several amendments and changes to identifying information, OFSI said Nov. 13. The changes amend eight entries subject to asset freezes and correct identifying information for 16 additional entries, OFSI said.
The United Kingdom's Department for International Trade updated its guidance on continuity trade agreements with non-European Union countries in a no-deal Brexit scenario, according to a Nov. 14 notice. The guidance added Jordan to the list of signed trade agreements.
The European Union-Singapore free trade agreement contains several significant rules of origin that may impact companies’ ability to benefit from the deal, KPMG said in a Nov. 13 post. The deal, which will take effect Nov. 21, is expected to eliminate Singapore tariffs on EU goods and remove all EU tariffs within a few years (see 1911080069). The deal’s rules of origin will be used to determine whether goods are eligible for preferential treatment and are product-specific, meaning the criteria that determines whether an item qualifies for a preferential tariff varies from product to product, KPMG said.