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IPR Globalization Period

In the GTS IPR Authorisation, 3 periods may be specified:

Processing Period

The maximum time allowed between import of the components and export of the compensating product.

Settlement Period

How often reports (and payment, if relevant) must be submitted to the Customs Authority.

Globalization Period

??? i'd be grateful for an explanation of this; particularly what effect this setting has in the system ???

Thanks & regards,

Dave

Former Member replied

Hello David,

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.

Best Regards,

Branislav Petricek

Edited by: Branko Petricek on Mar 24, 2011 3:44 PM

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