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Do You Have Any Clients That Import - Export to China

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The VAT People - Expert Author

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22nd May 2014

If so they need to be aware of a recent event which will affect them:

AEO – EU & China Sign Mutual Recognition Agreement

It has been announced that the EU & China have signed a mutual recognition agreement with regards to ‘trusted trader’ status – in the EU this is AEO.

What this means for UK businesses is that they have the opportunity to work with their Chinese counterparts to form ‘secure’ supply chains from a Customs perspective. This is important given that from 1st June 2016 EU Customs will be changing how they deal with Customs matters and ‘trusted trader’ status will give businesses distinct advantages both commercial and with HMRC when importing and exporting.

Although 1st June 2016 is still 2 years away the impact of AEO / ‘trusted trader’ status is something which businesses should at least be considering now.

All businesses that import from or export to non-EU countries but especially those dealing with the US and China should therefore at least be aware of AEO and how this affects them and for further information please contact David Miller who heads up our AEO Consultancy Service – or look at the AEO section of www.thecustomspeople.co.uk.


About the Author

The VAT People are leading VAT and Customs Duty consultants based in the North West of England. We work with a wide range of businesses throughout the UK as well as assisting our accountancy colleagues to unravel the thorny VAT issues for their clients. We are one of the UK's largest and most comprehensive sources of VAT and Customs advice, our consultancy team having over 140 years of experience in VAT and Customs gained in either HMRC or a Big 4 accountancy practice environment.

Call us on our VAT helpline 0800 077 4604 to discuss. All initial discussions are free with no-obligation.



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Article Published/Sorted/Amended on Scopulus 2014-05-27 14:18:46 in Tax Articles

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