For some, this means streamlined processes and faster operations. For others, it could mean heightened scrutiny and increased risks due to enhanced post-customs checks and expanded authority of customs officials.
To assist Ukrainian businesses, our customs team has initiated a series of introductory events. On 25 June, we hosted our first webinar, "The New Customs Code: How Business Rules Are Evolving."
What are the key changes introduced by the new Customs Code?
In our session, we delved into the reform's overarching goals and specific elements that could significantly alter how companies engage in global trade:
Transitioning from multiple customs regimes to a unified system aligned with the EU Customs Code.
Introducing a flexible model for special procedures, including transit, storage, processing, and special use.
Advancing the digitalization of customs processes with initiatives like the "single window" system and electronic guarantee management.
Tightening internal control requirements, emphasizing adherence to deadlines and reporting, as even minor infractions can result in customs debt and financial setbacks.
What are the risks for businesses, considering EU experiences?
EU case law, which guides Ukraine, highlights:
A shift in risks towards procedural compliance.
Even minor infractions, such as missed deadlines or incomplete documentation, can lead to customs debt.
Expanded opportunities for post-customs audits.
The growing importance of solid evidence to validate customs procedures.
However, the absence of intentional violations can be a strong defence for businesses.
"The new Customs Code elevates the need for precise internal controls and business processes. Companies that adapt swiftly will not only mitigate risks but also gain a competitive edge,"
How to prepare for the new Customs Code? Practical recommendations
We advise companies to:
Evaluate their customs processes and pinpoint risk areas.
Assess the impact of changes on supply chains and operational models.
Adjust internal processes and control systems to meet new customs legislation requirements, especially regarding deadlines and reporting.
Prepare for more rigorous inspections by customs authorities.
How can we support you?
Our customs and international trade team is here to help you navigate these changes by:
Evaluating the new Customs Code's impact on your business model.
Analysing the use of special customs procedures and associated risks.
Assisting in reviewing and strengthening internal processes and compliance controls.
Preparing for inspections and facilitating interactions with customs authorities.
We're committed to working with you to adapt confidently to these changes and leverage them as a competitive advantage.
