Chinese and other non-EU seller marketplaces may face customs admin charge in response to alleged widespread tax evasion
European Commission officials are reported to be considering a new customs administration levy on platforms for non-EU sourced low-value imports. A potential revenue or handling charge framework is likely to be made public in January with the new Commission coming into office at the start of this month. The move is spurred by compliants from many member states of unfair tax and lax product standards.
The €150 customs duties threshold is to be scrapped under 2028 EU customs reform proposals.
Any levy could be targeted at marketplaces on non-EU sourced goods sold to EU consumers and declared as under the €150 customs exemption threshold. It is believed that there is widespread under declarations of the value of parcels sold on popular sites such as Shein and Temu. Shipments from such sites will top €4 billion this year, and have tripled since 2022.
However, the revenue and administration charge reported as being considered however would likely fall foul of international tax rules and treaties. And would most probably transgress World Trade Organisation rules.
Press Release from Guernsey Finance, Tuesday 16 January, 2024. • The agreement fosters sustainable finance innovation within the two International Financial Centres• Collaboration supports investment
The European Commission (EC) has no right to impose restrictions on EU Member States’ citizenship-by-investment (CBI) policies, according to an Advocate General of the Court of Justice of the European
In response to the looming threat of recession, European insurance industry leaders are doubling down on their digitalisation initiatives to enhance customer experiences and streamline operations, according
Press Release from Jersey Finance, Friday 29 November, 2024. Jersey’s proposition as a hub for tokenisation and digital assets work has been highlighted in a number of key markets recently, as Jersey