An EU law update increases TIR guarantee limits, assuring a better value customs transit system, with extra financial security and a more comprehensive guarantee framework for transport, trade and customs.
The guarantee limit under TIR, which is the only global system, has now increased in the EU from EUR 60 000 to EUR 100 000, resulting in a more effective and robust system for customs authorities and the road transport industry.
The EU Commission has adopted the amendment to the Union Customs Code (UCC) Implementing Regulation, with the relevant text published in the Official Journal of the EU and new rules entering into force on 14 June 2017.
The legislative update comes after longstanding efforts by IRU to work with relevant decision makers on establishing a more competitive economic environment for road transport and international trade.
Other non-EU countries to benefit from the increased limit include Armenia, Azerbaijan, Bosnia & Herzegovina, Iran (Islamic Republic), Kyrgyzstan, Serbia and Ukraine. Any new countries to accede to the Convention, will also be able to benefit from higher limits.