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European Union: Deforestation Regulation – New due diligence requirements to tackle deforestation and forest degradation

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In brief The new EU Deforestation Regulation (2023/1115/EU) will impose due diligence obligations from 30 December 2024 aimed at tackling deforestation and forest degradation. The Regulation will require companies dealing in in-scope products to undertake due diligence into the source of a wide range of commodities, including cattle, cocoa, coffee, palm-oil, rubber, soya and wood, to ensure that they have not been obtained as a result of deforestation. You can access a recording of our recent webinar…

EU: The European Commission published the updated Combined Nomenclature for 2024 on Tuesday 31 October 2023

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The most significant updates to the Combined Nomenclature (“CN”) relate to – amongst others: The declaration of goods upon import, export, or when subject to intra-Community trade statistics between EU Member States is based on the CN. This sets the customs duty rate that is applicable as well as determines how the products are handled for statistical purposes. Therefore, the CN is an essential working instrument for industry and the customs departments of the EU…

United Kingdom and European Union: Product Risk Radar

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We are pleased to announce the launch of our new online content hub, the Product Risk Radar. The hub includes the latest important legal developments in product regulatory and liability risk impacting the UK and EU and we will post regular updates to help you navigate this increasingly challenging landscape. The areas covered include regulatory requirements, product liability and market surveillance and general product safety.

Navigating Global Anti-Dumping Procedures: A Comparative Table of Anti-dumping Procedures in Key Jurisdictions

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In the realm of international trade, the anti-dumping instrument plays a crucial role in safeguarding domestic industries against unfair trading practices. The high number of anti-dumping investigations initiated around the world, as well as an increasingly broad product scope (such as touted cases on hydrogen or electric vehicles), mean that many internationally active companies will need to be aware of anti-dumping. While World Trade Organization law sets out the general framework for municipal anti-dumping rules,…

European Union: Sustainable Batteries Regulation published in Official Journal

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On 28 July 2023, Regulation (EU) 2023/1542 concerning batteries and waste batteries (“Batteries Regulation”) was published in the Official Journal. The new Regulation repeals and replaces the existing Batteries Directive (2006/66/EC) and seeks to make all batteries placed on the EU market more durable, safe, sustainable, and efficient. It takes the extended producer responsibility (EPR) regime created by the existing Directive and expands it significantly through the introduction of more detailed mandatory design, content and conformity assessment…

Business consequences and recommendations on the tightened import ban on iron and steel imposed by the EU

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We’re reaching out today as we believe the publication of the 11th package of sanctions against Russia deserves your utmost attention! Particularly as it relates to the new anti-circumvention tool and the addition of entities registered outside of Russia on the list of natural or legal persons which are military end-users, form part of Russia’s military-industrial complex or which have commercial or other links with or which otherwise support Russia’s defence and security sector (i.e.…

Germany: Munich court rules that a year-end TP adjustment does not justify additional import duties

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In our blog post “The Hamamatsu TP/customs valuation case comes to a surprising conclusion” we summarized the final judgment of the German Federal Fiscal Court (Bundesfinanzhof; “BFH”) in the “Hamamatsu” case. The BFH had ruled that taxpayers cannot claim refund of import duties in case of lump-sum TP adjustments applied at the end of the fiscal year that result in a subsequent lump-sum decrease in resale prices and thus in an intercompany credit note for…

EU: Proposals envisioning most ambitious and comprehensive reform of EU Customs Union since 1968 published

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On 17 May 2023, the European Commission (the “Commission”) published a set of proposals that, according to the Commission, constitute the “most ambitious and comprehensive reform of the EU Customs Union since its establishment in 1968.” Please find our previous blogpost in which we anticipated the proposal here. The proposals now published aim to: Additionally, the proposals also intend to change the EU VAT Directive to align VAT rules with the new customs framework. This…

Creation of an EU Customs Agency and an EU Customs Data Hub?

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Introduction of an EU Customs Agency is becoming more and more tangible. This idea of a “European Customs Agency” was first proposed on 31 March 2022 by the “Wise Persons Group on Challenges Facing the Customs Union”. More recently, on 28 February 2023, during the 62nd Plenary Meeting of the Trade Contact Group set up by the European Commission, the creation of an EU Customs Authority was once again discussed alongside the introduction of an…

European Union: “FIT FOR 55”- Carbon Border Adjustment Mechanism regulation signed

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On 10 May 2023 the Council of the European Union and European Parliament signed the regulation implementing the EU Carbon Border Adjustment Mechanism (“CBAM”). CBAM will enter into force twenty days after it is published in the Official Journal of the European Union. Below we will provide further detail on the regulation and highlight some aspects that have been amended when compared to the initial proposal. The new CBAM Regulation is targeted at imports of products…