Export Edge | Corporate Training Courses and Short Courses in Ireland

Inward Processing & Customs Warehousing

Inward Processing

Inward Processing is a customs procedure that allows businesses to import goods from non-EU countries to be processed or used in the manufacture of finished products, with either total or partial relief from customs duties and taxes. The processed products are then either exported outside the EU or released onto the EU market by paying customs duties and taxes on the imported goods.

This procedure is particularly beneficial for businesses that need to import raw materials, components or semi-finished goods from outside the EU to manufacture finished products for export or for use within the EU. Inward Processing can help these businesses reduce costs, increase competitiveness, and improve their supply chain efficiency.

To use the Inward Processing procedure, businesses must apply to their national customs authority for authorization and meet certain conditions, such as demonstrating that the goods will be used for the intended purpose, providing a financial guarantee to cover potential customs duties and taxes, and complying with record-keeping and reporting requirements.

Overall, Inward Processing is a useful tool for businesses engaged in international trade, providing them with flexibility and cost savings while maintaining compliance with customs regulations.

Customs Warehousing

Customs warehousing is a customs procedure that allows businesses to store imported goods from non-EU countries in a designated area without paying import duties and taxes until the goods are released onto the EU market or re-exported outside the EU. This procedure is particularly beneficial for businesses that need to import goods but do not want to pay customs duties and taxes upfront.

Customs warehousing can help businesses reduce costs, improve cash flow, and enhance their supply chain efficiency. It is also useful for businesses that need to store goods for a certain period before releasing them onto the market or for businesses that require flexibility in their import and export operations.

To use the customs warehousing procedure, businesses must apply to their national customs authority for authorization and comply with certain conditions, such as storing the goods in a designated area, providing a financial guarantee to cover potential customs duties and taxes, and complying with record-keeping and reporting requirements.

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