The Unique System of Regulating Custom Services in EU through the Eori Number

The Unique System of Regulating Custom Services in EU through the Eori Number

The Unique Eori Number

The economic system is a well controlled one with the excise and the import and export duties to be looked with utter care. The value added tax to the products is also a relevant one to be looked forward to and taken control of. To solve all your problems related to the vat and import and export duty taxes, the independent VAT & Customs Experts Network is there to help you out with its experts. When importing or exporting a product, the operators are provided with an eori number application, the EORI number is assigned to importers and exporters and is used in the process of customs entry declarations and also the customs clearance for both import and export shipments travelling to the countries or from the EU countries  and also outside the EU.

Eori stands for “The Economic Operator Registration and Identification “ scheme and is an EU initiative that helps the traders communicate with customs officials when they import and export goods. This process allows Importers and exporters to register for an EORI number which is valid throughout the countries under EU.

The work procedure and the getting of an eori application number is a quite easy process. It takes maximum of 3 days to process. But to be able use your EORI number just after the application, it usually takes 24 hours, and that is after you receive a notification from the HM Revenue and Customs (HMRC).

To understand the whole concept of eori, it is a unique identification number that users involved in export and import business are required to use when they have to exchange data with Customs in all EU Member State countries. Considering the procedure regarding vat on the products, you need a vat registration number for which you have to register again. Once you have registered, which can be done online or using the paper form, HMRC states that you can receive your VAT registration certificate, which contains your VAT number, inone month from the date of application. The hmrc is likely to process 70% of the applications in 10 working days.

The EORI number yields many benefits and lets the Customs officials uniformly identify economic operators in all Member States of EU. This also leads to benefits for those economic operators and customs alike.

Thus the eori application number is one of the best and unique form of controlling the custom services in EU.