The movement of goods across the globe is increasingly complex. Customs and Excise Duty may be payable on goods brought into Ireland from non- EU countries. Knowing which goods are affected, while staying on top of regulatory change, is crucial, as there are high penalties and commercial costs for non-compliance.
In addition, Brexit will trigger new customs and trade issues that are likely to be very challenging for businesses both sides of the border– many of which could be dealing with the customs regime for the first time. Rates of duty vary according to types of goods and their classification. Unlike VAT, Customs or Excise Duty is not recoverable. This means it’s a direct, and often substantial, cost to a business. Understanding how these taxes affect your operations is paramount.
At KPMG, our dedicated Trade and Customs team and global network of specialists can help. We’ll advise on efficient trade operations and optimised supply logistics. This will give you confidence in your risk management and regulatory trade compliance arrangements.
We work with manufacturers, distributors and retailers to increase efficiency by:
Clients turn to KPMG for our: