SITPRO welcomes an initiative from the Department for Business Enterprise and Regulatory Reform (BERR) to promote the EU Duty Suspension Scheme as a way to enhance the competitiveness of companies who produce in the UK.
In terms of trade simplification it ticks the right boxes since unlike other customs measures there are no onerous forms to fill in and the potential benefits are huge. Companies who manufacture in the UK currently save over £30 million annually through the Scheme but this could be higher through increased awareness of the benefits.
Temporary Duty Suspensions allow the duty free importation into the European Community of unlimited quantities of certain raw materials, components and semi-finished products which cannot be supplied from Community sources and which are used in a process to make another product thus reducing costs and enhancing the UK's competitiveness for finished goods in world markets
For further information you should contact BERR Phil Walker on 0207 215 5319 (phil.walker@berr.gsi.gov.uk) or go to the BERR website at http://www.berr.gov.uk/whatwedo/europeandtrade/importing-into-uk/duty-suspensions-quotas/page23164.html.
Electronic Bulletin originally sent 23 February 2009
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