Preparing for Brexit – What does Brexit mean for my business?
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With the UK set to depart from the EU and the Customs Union this coming March the 29th, it will be automatically treated as a third country and, as so, different customs regulations will apply
The Malta Customs Department said that although the EU and the UK are currently negotiating on a trade agreement, local businesses and their staff should be prepared.
It explained that if a business actively imports or exports products from and to the UK, these goods will have to declared. This also applies for the transportation of said goods through the EU.
“Excise goods will also be affected. Businesses will not only have to deal with the procedures of the EMCS, but they will also have to file an import/export declaration, said the Customs Department.
“Everyone is hoping for the best, but we should be prepared for the worst,” it said. “So until an agreement is reached the Customs Department urges businesses to kindly get familiar with declaration procedures as all trade activities with the UK will have to be declared to Customs.”