The ebb and flow of goods across international borders has entered a realm of heightened complexity. Whether you are importing or exporting goods to or from Ireland, our experts are here to guide you.
From high-level reviews identifying duty savings opportunities and ensuring compliance, to in-depth support reconciling supply chain movements and managing Revenue Customs audits.
The trade landscape
We are witnessing an unprecedented impact in the Customs & Excise world with Ireland navigating the transition from seamless Intra-EU trade, to the more elaborate non-EU trade landscape. The impact of which has significant customs formalities and compliance requisites to navigate at increasing levels.
In this evolving context, strategic processes and procedures are imperative, not only to manage customs with compliance and management of risk, but also to enhance interaction and expectation with tax authorities, supply chains, and brokers.
At KPMG, our dedicated all-island Trade & Customs team stands ready to guide you through the intricacies of trading on the island of Ireland, and beyond. Our approach is to optimise your trade operations, mitigate risks, and assist in leveraging available authorisations while embedding best practices in customs operations. Serving across all sectors, including Life Sciences, FMCG, Retail, we liaise with Local, European, and Global Customs Authorities, ensuring our clients steer safely through the intricate landscape of international trade.
The essential pillars of International Trade
Classification, valuation, and origin
In the intricate world of global commerce, these three concepts serve as the bedrock of understanding and efficiency. They determine how goods are identified, valued for customs purposes, and where they originate (driving duties). Let's delve deeper into these fundamental aspects that shape international trade.
Classification
Every commodity is codified, identifying it within the customs world and determining applicable duties. At KPMG, we offer comprehensive classification services, including services like binding tariff information (BTI). Our expertise ensures precise classification of your goods, providing clarity in the customs landscape.
Valuation
The ‘value’ for customs may diverge from perceived worth, but it is crucial for calculating customs duty. KPMG assists in determining the accurate customs valuation of your goods, ensuring compliance with regulations and accurate duty calculations.
Origin
Determining whether and which duty rates apply, potentially enabling preferential rates under strict qualifying criteria. KPMG specializes in helping you secure Authorized Exporter Status through Binding Origin Information (BOI) applications. This status can provide your business with preferential access to duty rates, enhancing your competitive advantage.
KPMG is equipped to navigate these complexities through services like binding tariff information (BTI) and Binding Origin Information (BOI), ensuring precision and certainty in classification and origin of your goods. With our Authorised Exporter Status applications, we can ensure precision and certainty in the application and maintenance of your authorisation, helping you achieve compliance and competitive advantage.
Authorisations
Applications for customs authorisations such as Authorised Economic Operator (AEO), Inward processing (IP), & Warehousing can be demanding. Identifying opportunities to minimize and reclaim duty overpayments often necessitates a burdensome commitment of resources and time.
Our experience at KPMG can deliver streamlined support for you and your supply chain with authorisation applications, renewals, disclosures, and reviews by customs authorities, duty optimisation, procedure compliance, and implementation of best practices.
Postponed Import VAT Accounting (PIVA)
Introduced as a post-Brexit measure and effective since 1st January 2021, PIVA serves to aide businesses in the Republic of Ireland through cash flow optimisation. Utilising PIVA requires meticulous attention at each of the various steps at importation and reporting in the subsequent VAT return. The potential for several missteps can risk improper VAT application and declaration of improper VAT returns and supporting documentation.
KPMG has successfully supported numerous clients in implementing PIVA accurately, by provided clear and best practise processes that ensure alignment from clearance instructions through to brokerage and revenue reconciliation.
Windsor Framework (Northern Ireland Protocol)
Streamlining International Trade
The Windsor Framework is a pivotal development in international trade in recent years, impacting the UK & Ireland primarily but also wider International Trade. At KPMG, we're here to help you navigate the complexities of this framework and make the most of its benefits.
Export controls
Safeguarding global interests
Export controls play a crucial role in the global effort to maintain peace, protect human rights, and prevent the spread of dangerous weapons. These controls are part of a broader international framework aimed at promoting regional stability and security.
How KPMG can assist with export controls
KPMG offers comprehensive guidance and support to exporters navigating the complex landscape of export controls. Our experts are well-versed in both EU and national legislation governing export controls, ensuring that your business complies with all relevant regulations.
We understand that staying informed and compliant is essential for exporters. Whether you're a seasoned exporter or new to international trade, KPMG's services can help you:
- Navigate Regulatory Frameworks: We provide clarity on the intricate web of export control regulations, ensuring that your business operates within the bounds of the law.
- Risk Assessment: KPMG assists in assessing the risks associated with your exports, helping you identify potential compliance issues and develop strategies to mitigate them.
- Documentation and Reporting: Our experts guide you through the necessary documentation and reporting requirements, ensuring that your export transactions are well-documented and compliant.
- Training and Education: KPMG offers training programs and resources to educate your team on export controls, empowering your business to make informed decisions.
- Customised Solutions: We tailor our services to your specific industry and export needs, providing practical solutions to enhance your compliance and efficiency.
At KPMG, we're committed to helping exporters like you understand export controls and fulfil your obligations under EU and national legislation. Partner with us as we pilot through the regulatory landscape and ensure that your exports align with global objectives for peace, stability, and human rights.
Why choose KPMG?
Clients gravitate towards KPMG for our:
- Global Network: Over 300 Trade Specialists delivering global advice.
- Proven Track Record: Realising duty savings for clients.
- Sector experience: Across retail, life sciences (pharmaceuticals / medical devices), and the wider manufacturing sector to name a few.
- Collaborative Approach: Seamlessly integrating transfer pricing, legal, regulatory and advisory services.
- Expertise: Addressing trade issues between Ireland and the UK/NON-EU proficiently.
