Under a new trade agreement—expected to enter into force 1 July 2016—consumer and professional electronic products currently subject to customs duties upon import into the European Union and other jurisdictions will no longer be subject to import duties.
The World Trade Organization (WTO) trade agreement on information technology eliminates import duties on a range of electronic products imported into the EU and other markets (e.g., the United States, China, and Switzerland). The product list for which EU import duties will be eliminated includes:
Once the WTO agreement enters into force, presumably on 1 July 2016, most of the products (approximately 50%) listed in the WTO agreement will be subject to an import duty rate of 0% on import into the EU. For other electronic products, import duties will be gradually eliminated over a three-year period (for “sensitive products,” this phase-out could be up to seven years). The import duties have been eliminated based on the tariff classification of the products.
EU importers need to review carefully the tariff classification and product descriptions under the agreement against their product portfolio.
Read an April 2016 report prepared by the KPMG member firm in the Netherlands: ITA: EU import duties on a wide range of electronic products eliminated as of July 1, 2016
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