IPR Globalization Period
In the GTS IPR Authorisation, 3 periods may be specified:
The maximum time allowed between import of the components and export of the compensating product.
How often reports (and payment, if relevant) must be submitted to the Customs Authority.
??? i'd be grateful for an explanation of this; particularly what effect this setting has in the system ???
Thanks & regards,
You are right.
To make a simple illustration and not complicate this further:
Authorization setup :
Globalization period : 3
Processing period : 9.
This means that you start eg in January 1st, with importing the components. All the stuff you import into IPR until the end of March are regarded as imported at that date ( end of March). Then 9 months of Processing period runs during which you process the goods and export them. Then, after these 9 months, at 1st of January next year you do the settlement run and pay the duties on the unprocessed components you imported.
Edited by: Branko Petricek on Mar 24, 2011 3:44 PM