The Minister for Trade Promotion, Digital and Company Regulation, Robert Troy has today (Friday, July 1) announced a new round of the tariff suspension/quota schemes.
The minister stated that applications are now being accepted from manufacturers in the industrial, agricultural, and related sectors who wish to avail of the measures.
The tariff suspension scheme offers the possibility for companies in these sectors to import raw materials, components or intermediate products from outside the European Union free from tariff duty.
The scheme applies to items which cannot currently be sourced within 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.
The schemes aim to strengthen the EU’s industrial production capacity, thereby making it easier for its producers to compete with third country suppliers. It does not apply to ‘finished’ products.
Welcoming the opening of applications for the schemes, Minister Troy said:
“These schemes represent opportunities for Irish manufacturers to reduce the costs of sourcing materials that are not available, or not available in sufficient quantities, in the EU.
“I encourage Irish companies to avail of the tariff suspensions and quota schemes,” the minister stated.
The closing date and time for the receipt of the next round of applications is 5:30p.m on Friday, July 29, 2022.
Applications should be sent by e-mail to [email protected], or posted to the Department of Enterprise, Trade and Employment.
The department has advised that later or incomplete applications will not be accepted.
The suspension of duties on these applications, if they are successful, will come into effect from July 1, 2023.