The Union Customs Code (UCC) is already here. As it entered into effect on May 1, 2016, the UCC made all of us undertake a lot of new initiatives in order to be up-to-date with the latest requirements of the Union. In fact, it seems that most of the stakeholders are somewhat confused by the current situation. You are going through the new code documentation carefully and still cannot understand what the main differences are… Notwithstanding, we are here – the eCustoms People will shed some light on the matter for you so that you can put all trade activities within your organisation in order.
The new Union Customs Code introduced many legislative and procedural changes. The transition made requires careful management so as to ensure the smooth adaptation of the national customs processes as well as minimal disruption to trade. As a matter of fact, the UCC introduces a number of new concepts and requires modernisation of many existing procedures. The Temporary Storage, which is an existing customs procedure, is part of these new legislative and procedural changes, and is also the topic of the current article.
The new rendition of the Temporary Storage settlement part of the UCC introduced new clauses, which give it the status of a Customs Regime. In this article, we will compare this new settlement to the former one described in the CC. Please, do bear in mind that the present information note is prepared by Vivansa and is an unofficial document. It aims at facilitating the Customs formalities required for the trade operations. Below you will find a table describing the provisions of the Temporary Storage and its changes. For details, please refer to the Union Customs Code (UCC) or contact our team. We will do our best to give you any clarification needed.
In conclusion, the most important modifications we identified and that would like to highlight are:
The new settlement of the Temporary Storage is henceforth a Customs Regime. It takes into account the former rules and that all EU countries have a transitional period until 2019 to update their national and distinctive rules so as to avoid impediments to trade facilitation. In order to reach the UCC objectives, all European Customs Departments should continue with the further modernisation and adaption of their legislative environments, including those regulating Temporary Storage. Customs Departments in each European country should become main actors in developing the new supply chain and partners by adopting a unified strategy combining both risk management and trade flow. In this context and for facilitating a better understanding of the new rules governing the Temporary Storage regime, the French Customs have issued two information notes. The first concerns the Temporary Storage Installation and the second one deals with the approved location for the temporary storage. The two notes could serve as an example for EU countries to update and adapt their national specifications as soon as possible.