LAUMAS has received the Status of Authorized Exporter and Registered Exporter (REX) from ADM (Italian Agency for excise duties, customs and monopolies).
These acknowledgments are part of the system of trade agreements that the European Union has entered into with many third countries or groups of countries.
Goods originating in countries which are parties to the agreements can access the EU market, and vice versa, benefiting from the reduction or possibly elimination of duties, that is to say, a so-called “preferential treatment”.
The traded products must have precise characteristics and be accompanied by a document certifying their European preferential origin when they are presented to the customs authorities.
WHAT DOES IT MEAN TO SAY THAT A PRODUCT HAS PREFERENTIAL ORIGIN?
In order to be of preferential origin, a product must meet a set of criteria as per origin, processing or substantial changes.
A country that is a party to the agreements entered into with the European Union and decides to import the product will have the opportunity to enjoy a reduction in duties or, in some cases, to be exempted.
WHAT DO AUTHORIZED EXPORTER AND REGISTERED EXPORTER (REX) STATUS MEAN?
Status of Authorized Exporter
The traded products must have precise characteristics and, where the exported goods exceed a total value of € 6,000, a Movement Certificate (EUR1) must be completed in addition to other documents.
Whereas in the past the EUR1, previously endorsed by Customs, was at the carriers’ disposal, today direct validation is required whenever it is necessary to certify the preferential origin of a product.
This could lead to longer shipping times, but, as a result of its Status, LAUMAS is officially authorized to declare the preferential origin of the goods directly on the invoice with a code received from Customs.
In this way, it is not necessary to present any certificates, the processes are more streamlined and the shipments will suffer no delays of a bureaucratic nature.
Status of Registered Exporter (REX)
The REX system is also used for the certification of the European preferential origin of goods, but it includes other countries than the former.
Being part of this system allows us, as registered exporters, to certify the preferential origin of a product with a declaration on an invoice or another commercial document.
In this way, the countries adhering to the agreement that import our product will enjoy duty relief without any limit.
In addition, the Status of Registered Exporter will automatically be extended to all new countries that sign trade agreements with the EU.
Both opportunities demonstrate the confidence that Customs has given us as an exporting company, allowing us to act independently and to facilitate trade between LAUMAS and the countries covered by the agreements.
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