Minister Donohoe welcomes Revenue’s intensified Brexit engagement with businesses
Foilsithe
An t-eolas is déanaí
Teanga: Níl leagan Gaeilge den mhír seo ar fáil.
Foilsithe
An t-eolas is déanaí
Teanga: Níl leagan Gaeilge den mhír seo ar fáil.
The Minister for Finance and Public Expenditure & Reform, Paschal Donohoe, has today (Wednesday) welcomed Revenue’s intensified Brexit engagement programme with businesses who trade with the UK.
Revenue’s focus is on supporting and assisting those businesses that will be immediately impacted by Brexit. Revenue are writing to traders, on a phased basis, outlining the most critical Brexit preparation steps that businesses must take in order to be ready by 31 October. This includes an application to Revenue to obtain a customs registration, more commonly known as an Economic Operators Registration and Identification (EORI) number. However, there are also a number of other steps that a trader must take to be ready for the changes in customs formalities for trading with the UK post Brexit.
Commenting on Revenue’s latest engagement with businesses regarding Brexit, Minister Donohoe noted
“Revenue are intensifying their engagement with businesses who they expect will be impacted by Brexit. I welcome the fact that some businesses are actively preparing for Brexit and have taken the first critical step of getting their EORI number. This is positive. However, if you are one of the businesses that hasn’t yet taken action to prepare for Brexit, don’t leave your business at a disadvantage, take that first step and apply for your EORI now.”
Minister Donohoe cautioned businesses
“If you trade with the UK, Brexit will most definitely impact your business. It is of great importance in minimising disruption to your business come 31 October that you act now. You should also:
Minister Donohoe concluded
“I strongly urge all businesses who receive a Brexit preparedness letter from Revenue over the coming weeks to take note of their advice, act now and ensure that your business is Brexit ready for 31 October deadline.”
ENDS
Notes to editors:
EORI Registrations
Details of the number of EORI registrations since 2017 is as follows:
*Year* | *Number of EORI Registrations* |
2017 | 2,595 |
2018 | 2,976 |
2019 to date* | 7,255 |
*reflect figures to 12 July 2019
2018 Trade Profile Data
Threshold value | Number of cases | Overall value of imports | % value of imports where cases have an EORI registration | % value of imports where cases do not have an EORI registration |
Overall | 92,360 | €20.8 bn | 85.1% | 14.9% |
< €5,000 | 47,193 | €61.61 m | 19.18% | 80.82% |
€5 - €50k | 28,257 | €522.07m | 34.03% | 65.97% |
€50 -€100k | 5,670 | €400.84 m | 48.27% | 51.73% |
€100k - €1m | 8,854 | € 2.69 bn | 70.63% | 29.37% |
Cases above €1m | 2,386 | €17.17 bn | 89.74% | 10.26% |
Source: VAT Information Exchange System (VIES) Returns
Statistics related to VIES Imports from the UK
Threshold value | Number of cases | Overall value of exports | % value of exports where cases have an EORI registration | % value of exports where cases do not have an EORI registration |
Overall | 6,328 | €15.4 bn | 84.28% | 15.72% |
< €5,000 | 736 | € 1.48 m | 64.82% | 35.18% |
€5 - €50k | 1,659 | €36.34 m | 70.10% | 29.90% |
€50 -€100k | 676 | €49.10 m | 73.50% | 26.50% |
€100k - €1m | 2,049 | €744.20 m | 82.77% | 17.23% |
Cases above €1m | 1,208 | €14.63 bn | 84.08% | 15.92% |
Statistics related to VIES Exports to the UK
Revenue’s Trader Engagement Programme
Since 2018, Revenue has had a comprehensive trader engagement programme to raise the awareness of businesses of their customs obligations in order to ensure that legitimate movement of goods is as efficient and interruption free as possible, post Brexit:
-the Customs Consultative Committee (made up Revenue and representatives of import/export trade organisations)
-by participation in events organised by other Departments and State Agencies (e.g. Department of Business, Enterprise and Innovation, Enterprise Ireland, Bord Bia)
-industry organised events, and
-meetings with representative groups