Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

EU prolongs duty-free import of face masks, medical gear

Published 07/23/2020, 07:27 AM
Updated 07/23/2020, 07:35 AM
© Reuters. EU leaders summit in Brussels

BRUSSELS (Reuters) - The European Commission extended until the end of October a waiver of customs duties and sales taxes on imported face masks and other medical gear to help tackle shortages as the bloc fights the coronavirus epidemic.

The measure was initially adopted in April for the period covering the first six months of the year, and has now been extended to Oct. 31. It will also be applied by the United Kingdom.

"Today's decision is due to the risks posed to public health by the number of coronavirus cases in member states and to the shortages of medical equipment which are still recorded," the EU executive commission said in a statement released on Thursday.

Masks, testing kits and ventilators are among imported items that will continue to be exempted from sale tax and customs duties in the 27-nation bloc and Britain.

Medical gear was in short supply when the pandemic first hit countries in the bloc in March. The problem is less intense now as most European nations have long past the peak of their outbreaks, but shortages could re-emerge in the event of a second large wave, which is considered possible in the autumn.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.