Import

The Belgian Customs Authority has recently reported a growing number of fraud cases with importing goods from countries like China concerning import duties and VAT.

Since January 2020 the Incoterms 2020 are in effect. Every ten years these Incoterms are updated.

When goods are bought or sold “Delivery Duty Paid” (DDP) it means that the Seller delivers the goods to a place previously agreed to by the seller and the buyer. This can be any location. The agreed place of delivery (e.g. the terminal) needs to be specifically named.

In 2019 a new version of the Incoterms was released. Companies are now advised to use Incoterms 2020.

When goods are bought or sold “Delivery at Terminal” (DAT) it means that the Seller delivers the goods to a terminal at destination previously agreed to by the seller and the buyer. This can also be a road transportation hub or a quay.

When goods are bought or sold “Carriage and Insurance Paid” (CIP) it means that the Seller delivers the goods to a destination previously agreed to by the seller and the buyer.

When you import goods into the European Union you have to bring them into Free Circulation. Free Circulation implies non-Union goods which have been cleared by European customs, allowing you to sell or utilise these goods within countries in the European Union.

The International Chamber of Commerce has launched the latest version of the International Commercial Terms (Incoterms): Incoterms 2020.

When goods are bought or sold "carriage paid" (CPT), this means that the seller delivers the goods to a destination agreed in advance between the seller and the buyer. It can also mean delivery to the buyer's preferred carrier.