Inward Processing Relief
Electronic IPR (Inward Processing Relief) provides relief to promote exports from the EC and assist Community processors to compete on an equal footing in the world market. It allows businesses to avoid or recover duty on imported raw materials and processed goods. Duty is relieved of imports of non-EC goods, which are processed in the Community and re-exported.
Given the nature of the product processing, it is often difficult to accurately calculate the amount of imported raw materials re-exported in the form of finished products (i.e. goods compensation), especially when there are many finished products, and not all of them can be exported.
The IPR application simplifies the administration and management of inward processing relief from import to export. It is designed to facilitate the handling of import and export documents, and automatic stock records are set up from recipe details. The application automates all the necessary calculations relating to the processing. Particular emphasis is on minimizing the costs associated with the calculation of the number of compensation goods to facilitate the supervision of goods processing.