On 12 April 2024, the European Commission adopted the Implementing Regulation no. 2024/1071 (“Regulation“) relating to binding valuation information (“BVI“) decisions in the field of customs valuation and introducing an electronic system for binding origin information (“BOI“) and BVI decisions. The Regulation can be found here.
The possibility to apply for BVI decisions from relevant EU customs authorities was introduced into EU Customs Law by Commission Delegated Regulation (EU) 2024/1072. See our earlier blog about the introduction of the BVI decisions here.
With the adoption of the Regulation, the European Commission amends the Implementing Act of the Union Customs Code, laying down procedural rules for BVI decisions. These follow the model of existing procedural rules for the BOI and the Binding Tariff Information decisions, such as rules on the consultation procedure and the extended use of such decisions.
The adoption of this Regulation also introduces a new electronic system for BOI and BVI decisions where such decisions will be stored, enhancing the efficiency and consistency of customs procedures across the EU. Information pertaining to the applications and decisions relating to BOI and BVI shall be made available through this new system by the customs authorities. It is expected that this information will be publicly available and accessible for economic operators (like the EU BTI database). The new system aims to streamline the exchange and storage of information related to BOI and BVI decisions, ensuring that customs decisions are consistent and up-to-date. All information exchanges between customs authorities and businesses must be conducted electronically via this interface, further modernizing the EU Customs Union.
However, economic operators will need to wait for several years before they can apply for BVIs, because the relevant IT systems of several EU Member States are still under development. The Regulation will be applicable from December 1, 2027.
