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Albert Arenas (Spain)

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EU and China: European Commission imposes provisional countervailing duties on electric vehicle imports from China

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On 12 June 2024, the European Commission proposed provisional countervailing duties for imports into the European Union (“EU”) of new battery electric vehicles designed for the transport of persons (“EVs”) originating from the People’s Republic of China. The pre-disclosure of the European Commission’s proposal is published here. This pre-disclosure follows from the anti-subsidy investigation concerning EVs from the People’s Republic of China. Find our previous blogpost on that investigation here. The products in the scope…

Customs and FTAs week: key trending customs and compliance developments

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For the third week, we continued our Annual Compliance Conference with key customs developments impacting on businesses today. Specifically, we discussed the reform of the Union Customs Code in the EU, key trending customs developments in EMEA, and different methods of driving significant financial savings in global supply chains. EU customs reform: biggest overhaul since 1968 Tuesday 14 May SPEAKERS: Nicole Looks (Partner, Amsterdam), Thomas Kukanza (Senior Trade Advisor, Brussels), Sylvain Guelton (Senior Associate, Brussels),…

EU: First CBAM Filings Due 31 January 2024

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The first filings under the Carbon Border Adjustment Mechanism (CBAM) must be submitted by importers by 31 January 2024. CBAM is the EU’s landmark tool that seeks to put a fair price on the carbon emitted during the production of carbon intensive goods that enter the EU. It requires importers to report ’embedded emissions’ of certain products and of electricity imported into the EU in order to ensure equivalent carbon pricing for imported and EU…

Germany adds another chapter to the Transfer Pricing and Customs saga

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The German Federal Ministry of Finance (BMF) issued new transfer pricing (“TP”) guidance on June 6, 2023 with customs implications. Last year, Germany’s highest tax court issued its decision in the Hamamatsu case, ruling that both upward and downward lump sum retroactive transfer pricing adjustments, which occur after the decisive moment for customs valuation purposes, have no relevance for the customs value which shall only reflect the “real economic value” at the time of importation…

A substantive rebrand: the UK introduces its new Developing Countries Trading Scheme (DCTS) 

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On June 19, the UK’s new DCTS entered into force, replacing its previous Generalised Scheme of Preferences (GSP) regime. Under the WTO Agreements, developed countries can grant non-reciprocal preferential treatment to products originating in developing and least developed countries, referred to as “special and differential treatment” (S&D) provisions, normally referred to as a GSP. Countries that grant preferential treatment through a GSP determine eligible countries and S&D provisions unilaterally. Along with a rebrand, the DCTS simplifies…

European Union: “FIT FOR 55”- Carbon Border Adjustment Mechanism regulation signed

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On 10 May 2023 the Council of the European Union and European Parliament signed the regulation implementing the EU Carbon Border Adjustment Mechanism (“CBAM”). CBAM will enter into force twenty days after it is published in the Official Journal of the European Union. Below we will provide further detail on the regulation and highlight some aspects that have been amended when compared to the initial proposal. The new CBAM Regulation is targeted at imports of products…

EU Climate ambitions go beyond borders

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Imports of products in carbon-intensive industries outside the EU will soon be regulated by the Carbon Border Adjustment Mechanism On 13 December 2022, a provisional agreement has been reached between the EU Council and the European Parliament on the Carbon Border Adjustment Mechanism (“CBAM”). This mechanism will be set up to align the price of carbon for EU products covered by the EU Emission Trading Scheme (“ETS”) with the price of carbon for imported goods…