Glossary

• Customs tariff: Amount paid when goods cross a border. It not only has a tax collection function but also a trade policy function. In the European Union, the amount paid in customs duties when importing or exporting the same goods is the same in all countries of the Union.

• Money laundering: Illegal activity consisting of attempting to convert the profits from criminal or irregular activities into legal currency through purchases, investments, and financial transactions that introduce such profits into the legal economy.

• Release for free circulation: Granting of "Community goods" status to goods entering the Customs Territory of the Union, which means they have met all the requirements to be considered as such, including, where applicable, the payment of import duties.

• Export: Exit of goods from the Union Customs Territory (UCT) is only authorized after carrying out the procedure established in each case (declaration, inspection, payment of duties, etc.).

• Import: Entry of goods into the Union Customs Territory (UCT), which requires certain formalities (declaration, inspection, payment of duties, etc.) before they can circulate freely within the territory.

• Intrastat: Statistical system for the processing of trade data between member countries of the European Union.

• Levant: Granting of customs authority so that the exporter or importer, as the case may be, can dispose of the merchandise deposited in the customs premises.

• Single European Market: A common trade and tax regime for all countries in the European Union, which implies the free movement of goods within the Union and the application of the same regulations and trade policy to trade with third countries.

• Customs Territory of the Union: It basically coincides with the territory of the European Union, with certain exceptions, for example:

  • In Germany, the island of Heligoland and the territory of Büsingen are exempt.

  • In Denmark, the Faroe Islands and Greenland are exempt.

  • In Spain, Ceuta and Melilla are exempt.

  • In France, several overseas territories such as New Caledonia and French Polynesia are exempt.

  • In Italy, the municipality of Livigno is exempt.

Furthermore, San Marino and Monaco are part of the Customs Territory of the Union, despite not being part of the territory of the European Union.