Close Menu
    What's Hot

    Why parametric insurance matters in Nigeria’s climate response

    June 9, 2025

    Arco academy to offer remote pilot training with NCAA certification 

    June 9, 2025

    Tinubu short on tourism in experts’ midterm assessment

    June 9, 2025
    Facebook X (Twitter) Instagram
    Businessamlive
    • Home
    • Features
    • Example Post
    • Typography
    • Contact
    • View All On Demos
    • Typography
    • Buy Now
    Facebook X (Twitter) Instagram
    Businessamlive
    Home»WORLD BUSINESS & ECONOMY»Ireland anticipates 10-fold rise in customs declarations post-Brexit
    WORLD BUSINESS & ECONOMY

    Ireland anticipates 10-fold rise in customs declarations post-Brexit

    Businessam StaffBy Businessam StaffMay 17, 2017No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Ireland anticipates a 10-fold increase in the number of customs declarations made by local companies after Brexit, a senior official at the government agency responsible for customs checks said on Tuesday.

    With close trading links to Britain and the only land border with the United Kingdom, Irish businesses fear that their neighbor’s departure from the European Union will lead to a costly rise in tariffs, paperwork and transit times.

    Ireland’s Office of the Revenue Commissioners said its plans assume that Britain will leave the EU’s single market and will “almost certainly” be outside the bloc’s customs union, meaning companies would have to deal with two different customs regimes.

    “The volume of customs declarations would clearly increase, possibly by a factor of 10. A lot of those would be cross-border in Ireland, small in value but big in number,” Liam Irwin, commissioner at the agency, told a parliamentary committee.

    “The reality, assuming the UK is outside the customs union, is that all trading transactions will be subject to customs declaration. That doesn’t necessarily mean customs duty but there is a cost clearly.”

    Irwin said the majority of declarations would likely be made electronically – perhaps via a mobile phone app – and most would be approved immediately. Some 6-8 percent, primarily container traffic, would require a physical inspection, he predicted.

    BORDER ISSUE

    For trade between the Irish Republic and the British province of Northern Ireland, such customs controls could be carried out at stations near but not on the border, possibly 10-15 kilometers from the frontier, Irwin said.

    The Irish and British governments want to avoid the return of a hard border with customs checks and border posts. The EU’s chief Brexit negotiator Michel Barnier challenged Dublin last week to help him find “imaginative” solutions.

    Government research shows that smaller, rural-based firms are the most exposed to trading changes. Britain accounts for around 17 percent of Irish exports, but that figure leaps to 44 percent when foreign-owned firms are excluded. Over two-thirds of Irish firms also access continental markets through the UK.

    Acknowledging those risks, the government said this month that it would make a strong case to fellow member states that it may require EU support to mitigate the “serious disturbance” Brexit represents to the Irish economy.

    Ireland’s top civil servant overseeing Brexit planning told the committee that one of the areas being examined was a potential exemption from EU state-aid rules to provide financial support to some companies adversely affected by Brexit.

    However such a request would not yet be made “as long as we’re in the realm of wanting to see the closest possible trading relationship” between the EU and UK, John Callinan, second secretary at the prime minister’s department, said.


     

    Courtesy Reuters

    BREXIT European Union Ireland John Callinan UK
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Businessam Staff

    Related Posts

    Nigeria nudged toward market-driven growth as US rethinks development role

    June 6, 2025

    Africa’s GDP to hit 4% in 2026, $1.43trn extra revenue  achievable – Report

    May 29, 2025

    Global exporters brace for tariff fallout amid production shifts

    May 24, 2025
    Leave A Reply Cancel Reply

    Editors Picks

    Review: Record Shares of Voters Turned Out for 2020 election

    January 11, 2021

    EU: ‘Addiction’ to Social Media Causing Conspiracy Theories

    January 11, 2021

    World’s Most Advanced Oil Rig Commissioned at ONGC Well

    January 11, 2021

    Melbourne: All Refugees Held in Hotel Detention to be Released

    January 11, 2021
    Latest Posts

    Subscribe to News

    Get the latest sports news from NewsSite about world, sports and politics.

    Advertisement
    Demo

    Your source for the serious news. This demo is crafted specifically to exhibit the use of the theme as a news site. Visit our main page for more demos.

    We're social. Connect with us:

    Facebook X (Twitter) Instagram Pinterest YouTube

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Buy Now
    © 2025 ThemeSphere. Designed by ThemeSphere.

    Type above and press Enter to search. Press Esc to cancel.