The EU accounts for around 15% of world trade in goods, with computers, electronics, optics, chemicals, machinery and automobiles being some of the major imports.
To import goods into the EU, you need a valid sales tax identification number (VAT). The sales tax identification number must be included on the sales invoice with proof of the cross-border movement of goods or goods. If you do not register for a sales tax identification number, you may not be able to reclaim any sales tax you have paid. The fee can range from 0 to 25% depending on the goods purchased.
European Union – import regulations and documentation
As a foreign importer and exporter, it is important for you to have the right requirements and documents. Here are some of the requirements you or your carrier may need.
TARIC (Tarif Intégré de la Communauté)
The Taric is intended to help determine whether a license is required for a particular product. The European Commission has lists of information on import restrictions for various products. In addition, many EU member states keep their own list of goods that require an import license. The “import list” of Germany or Austria contains, for example, goods that are subject to authorization, their code numbers, any restrictions and the authority that issues the respective authorization. The import list also indicates whether the permit is required under German or EU law.
If you are looking for more information on the import licenses of the Member States, consult the country codes for the respective Member States here.
The SAD (Uniform Administrative Document)
The SAD describes goods and their movement around the world. This document is essential for trading in non-EU goods. Goods that are brought into the customs territory of the EU are subject to customs surveillance from the time they are brought up until the customs formalities have been completed. The summary declaration is submitted after the objects have been presented to the customs officers by the person who brought the goods into the customs territory of the EU or by the person responsible.
When importing it will be important to give customs or your broker the correct custom code. The Customs Tariff is one of the most important customs documents. It allows you to classify your products using the 8-digit (CN) European Combined Nomenclature.
European Free Trade Association (EFTA)
The countries Norway, Iceland, Switzerland and Liechtenstein also use the SAD. These countries are known as part of EFTA.
Global Trade Specialists
At Global Trade Specialists we can help you design your product, make prototypes of it and get it into production with our overseas partners. We prepare the papers your carriers need to help you import your product.