June 20 2024 0Comment

Preferential origin of goods

Posted by Angelo ZEA In Case study

OVERVIEW

Tax regulations governing the export of products in the industrial field require verification processes that, if not automated, produce not only high management costs but also the risk, in the event of errors, of penalties that may even be criminal.

BUSINESS CASE

The rules of preferential origin can be found in the protocols of the free trade agreements concluded by the European Union with numerous countries (more than 30 in total). By obtaining originating status, through the preferential proof of origin document, a product can benefit from the total or partial reduction of customs duties.

SOLUTIONS AND BUSINESS VALUE

Bitia has developed for leading industrial entities operating worldwide a solution that determines the preferential origin of components and finished products for the production of the preferential document of origin of goods, in order to use customs facilities (as per Article 39 of Regulation (EC) no.
450/2008) The developed application allows our customers to automate :

  • – The validation of information on the origin of materials
  • – Cost analysis of the product BOM
  • – The Determination of PreferentialOrigin andthe Generation of the Declaration of Preferential Origin.
  • – Managing simulations to establish optimal enforcement scenarios