Key Topics Covered in the Annual Compliance Conference

Title: Annual Compliance Conference Continues with Key Customs Developments Impacting Businesses

The Annual Compliance Conference entered its third week with a focus on key customs developments that are impacting businesses today. The conference featured discussions on the reform of the Union Customs Code in the EU, trending customs developments in EMEA, and methods for driving significant financial savings in global supply chains.

EU customs reform was a major topic of discussion during the conference, with experts highlighting that it is the biggest overhaul since 1968. The reform of the Union Customs Code was explored in detail, including the EU Customs Authorities & EU Customs Data Hub, Trust & Check Trader status, and the reform of the customs e-commerce regime. The speakers emphasized the need for modernization due to the rise of e-commerce and the importance of data in tackling customs tax fraud and illicit trade.

In the EMEA customs session, speakers discussed key customs developments and trends in the EU, UK, Africa, and the Middle East. Topics included ESG developments in the EU, customs valuation developments, and updates on customs procedures in the UK. The session also covered developments in Africa, such as Intra-Africa Trade and the African Continental Free Trade Area, as well as customs trends in the Middle East, particularly in Dubai.

The conference also delved into customs duty mitigation strategies to drive significant financial savings for businesses. Speakers discussed duty savings options such as origin and duty preference programs, customs processes, and case studies illustrating the methods of customs duty mitigation. Practical tips were shared for using duty preference programs and customs procedures to reduce duties payable on imported goods.

The Annual Compliance Conference, held virtually across five weeks, attracts over 4,000 in-house senior legal and compliance professionals from around the world. With a global speaker faculty, the conference provides cutting-edge insights and guidance on key global compliance, investigations, and ethics trends. Participants can register for upcoming sessions and access recordings on the conference website.