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IPR Settlement

Hi,

We've implemented IPR recently and we have some generic doubts about Seelement logic.

We have our IPR license with 6 month period.

We start imports in June, exports of products with IPR components start a couple of months later, and by January we tried the Settlment.

consumptions are purely FIFO, this aplies to exports and releas to free. correct?

When we run Settlement system checks stock of each import for quantity not exported or released to free. correct?

Result in settlement report is import with all linked exports and release to free, plus the duties to be paid, for quantities still in stock. correct?

After settlemtn execution do we need to do anything else to these quantities pending in stock but no longer under IPR license period?

Do quantities from IPR stock no longer under license period appear when we execute stock report?

Thanks for your time,

Pedro

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1 Answer

  • Best Answer
    Mar 04 at 08:39 PM

    Hi Pedro,

    Your first assumptions are indeed correct, but although the Settlement Report removes the expired stock and calculates the duty to be paid, it does not create an Import Declaration for the same. Instead, you must make your own arrangements to declare and pay the duty - those arrangements depend on the country in which you are operating.

    No, you don't need to do anything else about the expired stock, which won't show up in the Stock Overview.

    Hope that helps.

    Regards,
    Dave

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