BREXIT CHECKLIST
INSIGHT INTO ACTION
7. DEFERMENT ACCOUNT
What is a Deferment Account?
Some countries in Europe offer a Deferment Account allowing you to pay duties efficiently and cost effectively. This can also ensure that your high-value shipments are cleared quickly. When goods are imported, they may be subject to import tax and customs duties and duties are paid in full to the customs authorities at the time of import. A Deferment Account ensures your payable duties are paid for a certain accounting period on a predetermined due date directly to the authorities. More information can be found on country Government websites.
UK businesses can find more information here.
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