Duty Cash Recovery

What are duties?

• Customs duties, anti-dumping & excise duties imposed by the EU Commission on imports into EU
• Rates vary between 0%-14%, based on the “import value” of the goods and “country of origin”
• It is a sticking tax (unlike VAT) .... a bottom-line cost that is generally irrecoverable once paid
• Duty is paid on the tariff classification of a product which determines the duty rate

How might cash savings materialise?

• Incorrect classification leading to incorrect duty rate
• Payment of duty at full rate for products originating in countries with which the EU has a preferential trade agreement (and thus allows a lower or 0% rate)
• Non-application of deductions allowed from the value for customs purposes
• Identification of customs procedures post importation which would allow for clawback of duty
• New legislation
• Specific application to the EU for a 0% rate on a product not available in the EU (via lobby effort)

Should you wish to discuss Customs & International Trade Services please contact:

  Ryan Ostilly
  e-mail: ryan.ostilly@meridianglobalservices.com
  phone: +44.208.601.4600

Duty Risk Review

We will look at the duty payments being made to identify opportunities for duty savings for example the tariff rate (classification) may be incorrect

We will ensure that the company is compliant from a duty perspective and not open to retrospective liabilities , fines and interest

Approved Economic Operator

What is AEO?

• AEO is an authorisation “kite mark” granted by a local tax administration, to a company....
• It confirm that the company are fully compliant from a customs and export licensing perspective and that they have a secure international supply chain
• It enables a company obtain customs procedures without requiring customs bonds/guarantees
• It enables a company fast track their goods through customs
• Many AEOs will only work with other AEOs
• It is increasingly a stepping stone to obtaining many customs simplifications and ‘light touch; audits

How can we help?

• The AEO application requires a self-assessment to be undertaken of a company’s customs, export licensing and supply chain security procedures
• We can manage the process from start to finish to ensure a company obtains their authorisation