Unlocking the hidden benefits of the customs function
Often, customs is seen as a small step in supply chains – just a couple of declarations and a tax payment. However, there are many improvements to efficiency, finances, and logistical performance hidden inside this crucial function.
The Pan-Euro-Mediterranean (PEM) 2025
As of 1st January 2025, the updated rules of origin for goods under the Pan-Euro-Mediterranean (PEM) Agreement have come into effect. These changes represent a fundamental shift designed to simplify trade processes, while ensuring the continuity of international trade. As the transition begins, it is essential for businesses to understand the key changes and how they can best prepare for navigating the new regulations.
The Importance of Origin From a Customs Perspective
The label says Made in China, so determining the origin for customs purposes is easy, right? Wrong! Determining the origin of your goods is much more complicated than you might think. It is also essential, as the origin of your goods can affect the duty amount you have to pay or even whether you are allowed to export or import your goods.