What does this mean?
Any business which imports materials or components because they cannot obtain supplies from EU manufacturers can apply for a tariff suspension, where the savings to be gained amount to at least €20,000 a year. The application process is, however, quite lengthy as new suspensions are announced only twice each year – January and July. The next round of applications must be submitted in September 2012, and if successful, will result in new tariff suspensions effective from 1 July next year.
The Customs Practice can help
The Customs Practice can assist importers with applications for tariff suspensions – for further information, or to check whether your imports may be eligible for a tariff suspension, please call us on 01635 521624 or by e-mail to email@example.com.