The Department of Enterprise, Trade and Employment is inviting applications from manufacturers in the agricultural, industrial and related sectors for a new round of tariff suspension and quota schemes.
The tariff suspension scheme offers the possibility for such companies to import raw materials, components, or intermediate products from outside the European Union free from tariff duty.
This is on the condition that the item cannot be sourced in the EU or Turkey.
The tariff quota scheme is designed to address shortages in the availability of essential materials within the EU and can be applied for in the same way as suspensions.
Tariff suspension
Minister for Trade Promotion and Digital Transformation, Dara Calleary has announced that a new round of the EU’s tariff suspension/quota scheme applications will open on Saturday (July 1).
The minister called for applications from manufacturers in the industrial, agricultural, and related sectors.
Companies, in applying for tariff suspensions, must be able to demonstrate that each item for which duty suspension is sought:
- is intended for further processing by them;
- is not available within the EU;
- generates duty savings of at least €15,000 per annum (if an applicant company cannot reach this minimum limit on its own, it is possible to join forces with one or more other companies to do so).
“The tariff suspension and quota schemes represent a very effective way for Irish manufacturers to gain a competitive edge by reducing the cost of sourcing components that are not available in the EU.
“I would encourage all Irish manufacturers to avail of these schemes,” Minister Calleary said.
The deadline for applications, which can be made to the department, is 5:30p.m on Monday, July 31, 2023.
The suspension of duties on these applications, if they are successful, will come into effect from July 1, 2024.