Topic spotlight

Criterion of financial solvency for the reduction or waiver of a comprehensive guarantee

Michael Lux Attorney at Michael Lux BV, former Head of Unit 'Customs Legislation' at EU Commission

Customs Compliance & Risk Management (CCRM) Journal, Issue 30, December 2024 / January 2025

January 14, 2025

Criterion of financial solvency for the reduction or waiver of a comprehensive guarantee

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Topic: duties, taxes law
Tag: guarantee

This article deals with legal changes in relation to the criterion of financial solvency that were introduced in 2018 but have not yet been noticed by many traders and taken into account by some customs authorities. These changes allow for a more flexible approach to the assessment of economic operators' financial solvency when authorisations for a reduction or waiver of a comprehensive guarantee are requested or to be maintained.

Market: EU - European Union
Copyright of the journal: CC Learning, UAB

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