Blog: Notes from the EU - a new customs code?
Dean Best | 20 November 2009
The latest proposed reforms to create a harmonised and modernised EU customs code could increase duties on branded food imported from outside the EU.
They could boost the customs valuation of these goods, inflating ad valorem tariffs; one change would ban the use of the ‘first sale for export’ for valuations, where importers declare the price a foreign exporter paid to a local supplier before shipping the goods to Europe.
This could be less than the price paid by the eventual European customer, with a correspondingly lower duty.
Another change would force exporters to include royalties and licence fees covering permissions to exploit intellectual property rights in their customs valuations. These are currently excluded when exporters source from suppliers not directly demanding their payment – essentially a third party.
Under the new system, royalties and licence fees would be included in valuation of any goods attracting some kind of trademark, patent or copyright.
Any changes would - naturally - need to be discussed at length by EU officials but the impact of any reforms is worth bearing in mind.
Danone completed its US$12.5bn acquisition of WhiteWave Foods this week. The move will roughly double Danone's presence in North America, where WhiteWave is a top four dairy player. ...
Premier Foods plc revealed today (28 March) it has secured a deal with its pension scheme trustees that will see the UK food maker reduce its pension burden....
Hain Celestial, under the scrutiny of the investment community in recent months and facing some challenges in its domestic market, has announced another shuffling of its management pack....
FrieslandCampina, which today served up higher profits but lower sales for 2016, is ready to offload the last non-dairy business owned by the Dutch cooperative giant....
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