Inward Processing Relief (IPR) is a customs process that enables companies to import goods from outside the European Union (EU) without paying taxes and duties.
Key benefits of inward processing relief:
Duty and tax deferral: Businesses can postpone paying import duties and taxes until the finished product is sold or released onto the EU market.
Flexibility: Depending on the market’s state, businesses can choose to sell the completed product inside or outside the EU.
Options for processing: Inward processing includes a broad range of tasks, such as simple packaging or preservation as well as manufacturing.
