On 6 May 2025, the United Kingdom (UK) and Indian Governments agreed a new ‘landmark’ free trade agreement (“FTA”) to increase long-term bilateral trade by £25.5 billion each year and drive economic growth in both countries. The UK Government believes the FTA will result in a £4.8 billion increase in UK GDP and a £2.2 billion increase in UK long-term year-on-year wages. The legal text of the agreement and regulatory details must first be finalised,…
On 7 December 2023, the government announced a package of customs simplification measures to simplify export and import processes for traders. These measures are aimed at supporting the UK government’s goal of having “the world’s most effective border” under its 2025 UK Border Strategy (our previous blog on that here), developed in 2020 to “simplify processes to traders, improve the security and biosecurity of the UK, and embrace innovation”. Together these improvements in the following…
The UK government published an evaluation report for the six pilot initiatives on an ‘Ecosystem of Trust’ (“EoT”) on 29 August 2023, which was first set out in the government’s 2025 UK Border strategy. Aimed at using technology to create the so called EoT around the border, the UK proposed an automated assurance and reliability model that could allow a simplification of the current customs and border processes. Such an ecosystem would be built on…
The German Federal Ministry of Finance (BMF) issued new transfer pricing (“TP”) guidance on June 6, 2023 with customs implications. Last year, Germany’s highest tax court issued its decision in the Hamamatsu case, ruling that both upward and downward lump sum retroactive transfer pricing adjustments, which occur after the decisive moment for customs valuation purposes, have no relevance for the customs value which shall only reflect the “real economic value” at the time of importation…
On 25 July 2023 the UK government announced that increased extended producer responsibility (“EPR”) fees for packaging waste will be deferred by a year from October 2024 to 2025. In the same week the government also launched a consultation on the draft legislation to implement the new EPR regime which will include the introduction of mandatory packaging recyclability markings for the UK market. The current producer responsibility regime for packaging waste has been operational in…
On June 19, the UK’s new DCTS entered into force, replacing its previous Generalised Scheme of Preferences (GSP) regime. Under the WTO Agreements, developed countries can grant non-reciprocal preferential treatment to products originating in developing and least developed countries, referred to as “special and differential treatment” (S&D) provisions, normally referred to as a GSP. Countries that grant preferential treatment through a GSP determine eligible countries and S&D provisions unilaterally. Along with a rebrand, the DCTS simplifies…
The UK government announced on 15 March 2023 that customs valuation rulings, so-called Advance Valuation Rulings (“AVR”), would soon be a feature of the UK Customs regime (please see our earlier blog here). On 27 April 2023, the UK government published guidance on submitting applications for an AVR with the system going live. This is despite the necessary legislative amendments not yet coming into force. An AVR is a legally binding ruling held by the…
As part of its slate of Customs measures announced for the Spring Budget 2023, the UK government confirmed yesterday, March 15, that AVRs will soon be a feature of the UK Customs regime. The long awaited mechanism will allow for legally binding rulings on the Customs Valuation methodology for the specified goods in a particular scenario, for a period of three years (subject to cancellation or withdrawal). Amendments will be made to the UK legislative…
Yesterday (15 March 2023), the Government announced its Spring Budget 2023, which included some long awaited changes to the current Customs regime (“Customs Package”). Broadly, the announcements capture improvements following the Government’s 2022 Call for Evidence on an independent Customs regime. Many of the changes have been anticipated by businesses (such as the Advance Valuation Rulings mechanism which we have blogged about separately today as well). A summary of these changes is set out below:…
There are already big reforms planned for the UK Trade Remedies Authority (“TRA”) – less than two years after its establishment – and for the overall operation of the UK trade remedies regime. On March 9, the UK Government announced changes to its trade remedies regime to transition to a more complex investigatory regime. Changes include: The framework of proposed changes will also require the TRA to notify Ministers before initiating new investigations. Potential Impact…