International Trade Pathway - Smart Duty Management Part 2 - Understanding Regimes 40 and 42

Confused about customs rules when trading in the EU?

Our second FREE International Trade course will explain:

• Different import & export options that affect your goods before they arrive.
• The 40 & 42 regimes: These are common ways to import goods into the EU for free circulation (meaning you can sell them).
• What a fiscal representative is: They can help handle your EU VAT (sales tax) if you're not based in the EU.

Companies engaged in international trade are subject to various customs regimes that determine the legal status of goods before their arrival in a specific territory, while establishing a regulatory framework for the movement of these goods. Among the customs regimes are the 40 regime, also known as the classic import regime for release for free circulation, and the 42 regime.

A fiscal representative is a locally appointed business or individual that is typically jointly liable for any VAT owed by the non-EU taxpayer.

In this workshop, we will examine these options and their implications for businesses engaged in trade within the European Union.

This event is part of a Programme of Workshops and Training being delivered under the InvestFife brand, incorporating all of Fife Council’s Economic Development services, which in partnership with Business Gateway Fife, Fife Chamber of Commerce and Scottish Development International aims to support businesses in Fife.
 
These sessions have been co-ordinated by the Fife Chamber of Commerce and St Andrews Management Centre to support businesses accessing new markets, regardless of where they are within their trade journey.