The Council adopted a regulation removing duties on jet fuel imports as from 1 January 2014.
The suspension of duties for jet fuel will avoid an increase of price that would otherwise have occurred because of the application of the new scheme of generalised tariff preferences, which starts running as from 1 January 2014. From that date, a number of exporting countries of jet fuel will cease to benefit from preferential access to the Union market. The imposition of customs duties on jet fuel from those suppliers would likely cause an increase in the price of jet fuel in the EU as it is not economically viable for refineries in the EU to increase their production of aviation fuel to any significant degree. Currently, a big percentage of jet fuel imports to the Union originate in countries that already benefit from preferential access to the Union market, and thus in practice the imports are duty-free. The suspension of the duties for jet fuel, currently at 4.7%, will be reviewed within five years. 

Informatiesoort: Nieuws

Rubriek: Europees belastingrecht, Douane

H&I: Previews


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