Czech News - Sept 96 - Year-End Customs planning

EXPIRATION OF THE DECREE NO. 243/1993 COLL.

The Government Decree on customs duty on goods meant for reprocessing will expire on 31 December 1996. The Decree sets 0 % customs duty (so called foreign investor relief) on imports from the foreign parent company. Hence companies currently taking benefit from this relief may need to factor in the potential increase in duties on imported materials.

IMPORTS FROM EU

Based on the EU-Czech Republic Association Agreement, 0 % import customs duty will apply on most products originated in the EU countries with effect from 1 January 1997.

The content of this article is intended to provide a general guide to the subject matter. It is therefore not a substitute for specialist advice.