In the third quarter of 2022, Irish ports handled 12.3 million tonnes of goods through 3,202 vessels, with Dublin port accounting for 62% of all importation and exportations. In the third quarter of 2022, 40,549 tonnes of goods were handled by air freight, with both figures expected to increase in 2023.
But why is this number significant, and why does Ireland seem to have such a high volume of freight?
So we’re all connected, this much is true; the average person now has access to every corner of the world, and oftentimes just at the tap of a button. However, not all freight companies are created the same, which is why here at Greyhound Express Freight LTD, we offer a premium express shipping and express tracking service, meaning that your goods will be retrieved or delivered right on time whilst being handled with care, and will give you the peace of mind of knowing where your delivery is at all times.
In the realm of international trade, the expertise of custom brokers is invaluable, particularly in a country like Ireland that boasts a thriving trade environment. Custom brokers in Ireland offer businesses the advantage of their deep knowledge of customs regulations, streamlined processes, compliance management, and efficient documentation handling.
navigating the complexities of customs regulations and procedures can be a daunting task for businesses, which is where companies like Greyhound Express Freight come into play. Brokers such as Greyhound Express Freight play a crucial role in enabling smooth import and export processes in Ireland.
In most cases, customs brokers act as intermediaries between businesses and customs authorities, ensuring that all import and export procedures are carried out in accordance with applicable laws and regulations. Custom brokers possess in-depth knowledge of customs rules, documentation requirements, tariff classifications, and trade agreements, allowing them to navigate complex procedures on behalf of their clients.
By ensuring accurate classifications, custom brokers help optimize customs duties, ensuring businesses pay the correct amounts while maximizing cost savings.
By efficiently managing many complex processes at once, custom brokers help businesses save time, reduce administrative burdens, and streamline supply chains. Customs brokers take care of the minutia and complexities surrounding customs when trading, allowing you to focus more on other aspects of your business in the meantime
Their knowledge and experience enable businesses to comply with customs procedures efficiently, minimizing the risk of delays, penalties, or other trade-related issues.
For more information about custom brokers in Ireland and how to avail of those services, contact Greyhound Express Freight today.
Greyhound Express Freight LTD. is one of Ireland's most established independent freight forwarders. Our warehouse is located in Cork airport. We have access to a bonded warehouse. When we discuss bonded warehouses, even experienced importing companies will have questions. To make this information more accessible, we have compiled some of the most common questions below.
A bonded warehouse is a secure facility or area where goods are stored under the supervision of customs authorities or other government agencies until they are released for import or export. These warehouses are designed to store goods subject to government regulations, such as taxes, duties, or other fees until the required paperwork is completed and the goods are released.
Businesses often use bonded warehouses that import goods into a country but do not want to pay the required taxes and fees upfront. By storing their goods in a bonded warehouse, they can delay payment of these fees until they are released for sale or distribution.
In addition to providing storage for goods, bonded warehouses may also offer value-added services such as inspection, sorting, and repackaging. They are typically located near ports of entry or other transportation hubs to facilitate the movement of goods.
In Ireland, certain goods cannot be stored in bonded warehouses. These include:
Perishable goods such as fresh fruits, vegetables, and meats.
Explosives, firearms, and ammunition.
Radioactive materials and hazardous chemicals.
Tobacco products, including cigarettes and cigars.
Live animals and plants.
Counterfeit goods and goods that infringe on intellectual property rights.
Goods that are prohibited or restricted under Irish law, such as narcotics and certain types of medications.
In addition, bonded warehouses are subject to regulations and inspections by the Irish Revenue Commissioners and other government agencies to ensure compliance with customs and excise laws.
The time that goods can stay in a bonded warehouse is subject to specific regulations and may vary depending on the goods being stored. Generally, goods can be stored in a bonded warehouse for up to 90 days without additional fees or taxes.
However, if the goods need to be stored longer, applying for an extension of the storage period may be possible. The extension is granted on a case-by-case basis and is subject to approval by the Irish Revenue Commissioners.
It's also worth noting that if goods are left in a bonded warehouse for too long, they may be subject to seizure and forfeiture by the Irish government. Therefore, it's essential for businesses to carefully manage the storage of their goods in bonded warehouses and ensure that they comply with all relevant regulations and requirements.
In Ireland, a free zone and a bonded warehouse are two different customs-controlled areas used to store goods. The main difference between the two is their level of control and flexibility.
A bonded warehouse is a secure facility where goods are stored under the supervision of customs authorities until they are released for import or export. The goods are subject to government regulations, such as taxes, duties, or other fees, until the required paperwork is completed and the goods are released. The primary purpose of a bonded warehouse is to defer payment of duties and taxes until the goods are ready to be released for sale or distribution.
On the other hand, a free zone (also known as a free trade zone or freeport) is a designated area within a country where goods can be imported, exported, and stored without being subject to certain taxes and duties. The goods in a free zone are considered outside the country's customs territory and subject to different regulations and controls. Businesses operating in a free zone can benefit from streamlined customs procedures, reduced administrative burdens, and lower costs.
In summary, a bonded warehouse is a customs-controlled area where goods are stored until they are released for import or export, while a free zone is a designated area within a country where goods can be imported, exported, and stored without being subject to certain taxes and duties.
Do you still have questions regarding bonded warehouses? Then please get in touch with our offices today.