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ID number:542714
Author:
Evaluation:
Published: 07.09.2021.
Language: English
Level: College/University
Literature: n/a
References: Used
Time period viewed: 2018.g. - 2019.g.
Extract

Transit
The purpose of the transit procedure is to streamline the transportation of goods within the European Union and especially to simplify the formalities required when crossing the customs borders of the European Union. The transit procedure allows for customs clearance of goods at a customs institution at the location of the importer (exporter). This procedure allows you to maintain the customs status of goods: for community goods when moving from one point in the EU customs territory to another point in the EU customs territory through the territory of a third country; for foreign goods - when moving through the customs territory of the EU. For the movement of community goods within the customs territory of the EU, the transit procedure does not apply, since such movement is in principle governed by the provisions on the freedom of movement of goods contained in the EU Treaty. When importing non-communitarian goods, the transit procedure allows for deferment of import duties and the use of other trade policy measures until the goods reach their destination or leave the EU customs territory. Goods placed under the transit procedure are not subject to VAT and excise taxes.

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