Inward Processing Relief is an EU duty relief procedure. It allows companies to import goods under duty suspension from outside the customs union to be processed within the union. Processing can be anything from repacking and sorting to the most complicated manufacturing.
- You can improve the cash flow by suspending the payment of duties and VAT.
- Simplify operations by allowing duty unpaid materials on the manufacturing shop floor.
- And finally, improve margin by avoiding or reducing the payment of duty on dutiable components when the finished product has a favourable or 0% duty rate.