In November we reported that the European Commission announced plans to include binding valuation information (“BVI“) decisions in its customs legislation. The Commission has published the draft Delegated Regulation and obtained feedback from a public consultation, which ended on 18 January 2023.
The Commission describes this move as the completion of an already well-established legal and operational framework for issuing decisions relating to binding tariff classification information (“BTI“) and binding origin information (“BOI“).The aim is to create a transparent and formal process for the customs treatment of imported or exported goods.Exporters and importers will be able to apply and obtain in advance, from the customs authorities, binding decisions which will be valid in all Member States. This will provide legal certainty that the operations covered by the decision will be treated by the customs authorities, at the moment of the importation or exportation of the goods, in accordance with that decision.
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Website with more infor on the BVI initiative: European Commission
