This tax started at five per cent for March 2004 and rises by one percentage point each month to reach a maximum of 17 per cent on March 1 next year.
Other collectors’ items can continue to be imported under code 97050000 and remain free of this import duty.
This new duty is additional to customs duty applicable under Regulation (EEC) No.2913/92.
The moral of this trade-war story is clearly “make haste with your imports or collect something else”. There are plenty of modern medals and re-strikes originating in the EU.
An unwelcome change to tax our patience
THE British Numismatic Trade Association have just issued a notice to their members about a new European Union import tax. As from March 1 an ad valorem duty has been imposed on any United States Mint modern products imported into the European Union under the following codes – 71189000 and 71181010.
