Definition: Basic reporting cycle

Category: General concept

In extra-EU trade the basic reporting cycle is principally formed by economic units exporting goods into and importing goods from non-member countries. The exporters and importers may be natural and legal persons, private and public organisations, administrations and institutions of all types.
In intra-EU trade the basic reporting circle is formed by all economic units of a given EU Member State that exchange goods with other EU Member States. They may be natural and legal persons, private and public organisations, administrations and institutions of all types.