(source: unsplash)
The Financial Administration has decided to implement new tariffs on imported goods.
The new customs duties will be effective as of July 1, 2021 and affect goods imported from ‘third countries' (countries that aren’t member states of the European Union or the European Free Trade Association). In addition to this tariff, VAT will also be applied to previously exempted ‘low-value goods’, which were imported items below the value of 22€, the Financial Administration reported.
This change is part of the broader European eCommerce project.
There will also be a reversion to the practice of placing all goods imported from third countries through a customs duties procedure. All imported goods will have to be marked with an electronic customs declaration, a practice that low-value goods have been exempted from for a long time. Customers will have to once again pay import duty on low-value goods as well.
