The new Union Customs Code (UCC) is to come into effect on 1st
May, 2016. It supersedes the currently applicable customs code and
is complemented by a delegating and implementing act, thus
repealing the previous Customs Code Implementing Provisions (CCIP).
The new regulations in the UCC will serve to bring customs laws in
Europe in line with modern-day needs and make them competitive on a
global scale. The next step is to introduce all the measures
necessary, because this reform will lead to radical amendments in
the customs procedures used in businesses. Enterprises will be
required to adapt their internal customs procedures and are obliged
to have converted them by the end of 2020. The legal revisions to
the UCC make an impact on all aspects, ranging from temporary
storage to specific measures, particularly those applying to inward
and outward processing. The stock status at which customs debt is
incurred and extinguished has been completely revised.
