Inward Processing Relief

CUST Customs Compliance Filing Special Procedure

Take advantage of inward processing relief with the right software in place

Customs Compliance Software

MIC-CUST® IPR helps to fully capitalize on the benefits of inward processing relief

Inward Processing Relief (IPR) is a critical customs procedure that allows businesses to import goods for processing and re-export them without incurring import duties. This strategic advantage enables companies to maintain cash flow and enhance their operational efficiency, making it a vital tool for manufacturers navigating the complexities of international trade. 

Using the MIC-CUST® IPR software module not only facilitates various processing activities, from sorting to complex manufacturing, but also ensures compliance with trade regulations, particularly within the European Union. By leveraging effective trade compliance software solutions, organizations can automate inventory management, track compliance, and recalculate duties, streamlining their operations and minimizing costs. 

Understanding and implementing IPR effectively can significantly bolster your competitive edge in the global market. Our software solution MIC-CUST® with Inward Processing Relief is designed to help businesses fully capitalize on the benefits of inward processing while ensuring adherence to all regulatory requirements.

Benefits

Advanced Inventory Management

The MIC-CUST® IPR module enables precise inventory tracking and expiry date calculations, ensuring compliance and blocking unauthorized stock withdrawals during processing

Duty-Free Processing Flexibility

Utilize MIC-CUST® IPR to import goods duty-free for processing and re-export, optimizing costs and enhancing cash flow while adapting to changing trade compliance requirements with regards to the inward processing relief customs regime

Automated Compliance and Reporting

Our software solution automates stock reconciliation and integrates with ERP systems, ensuring compliance from import to export and simplifying recordkeeping for accurate duty calculations

Highlighted Product Features

Precise inventory management

Track every inventory addition and removal with exact categorization, ensuring alignment with customs regulations and bolstering operational efficiency in global trade.

Adaptive import limit management

The system allows for the management of import limits based on defined tariff numbers, offering flexibility regarding quantities, values and validity periods as per customs requirements.

Configurable stock withdrawal logic

Our software solution supports various stock withdrawal principles, including first in, first out (FIFO) and prior export principles, allowing businesses to customize deduction sequences to their operational needs.

Enhanced bill of materials tracking

With real-time tracking of bill of materials (BOM) levels, businesses can monitor relevant goods throughout the entire import to re-export process, ensuring accurate compliance and reporting.

Expiry date calculation and reporting

The system features configurable expiry date calculations for stock entries, alongside automated processes for managing expired IPR stocks and calculating associated duties and interests, facilitating efficient compliance with inward processing relief regulations.

Comprehensive audit trail

Our software solution provides a complete audit trail, tracking every inventory movement from the customs declaration through to stock reduction, ensuring full compliance with trade regulations.

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Get in touch

Have questions about our company or products? Reach out to us, and our sales team will be happy to assist you. Or take advantage of the opportunity to explore how MIC solutions can elevate your business, with expert guidance from one of our specialists.