 |
|
 |
|
Background
Recent years have seen an explosive growth
in new research areas and technologies revolutionising the Medical
Products and Devices industry. Globalisation has increased with
emerging markets. Competitive advantage now relies on product innovation
and development as the key to survival. The challenge of launching
products quickly, on a global basis, whilst staying ahead of the
competition and achieving rapid market penetration has already stretched
many companies resulting in high impact media attention and a corresponding
discounting of share price.
Customs and international trade issues
In certain circumstances public and
private establishments which are mainly engaged in education or
scientific
research can import goods free of customs
duty and import VAT. Such establishments include universities
and teaching and research hospitals;
public health laboratories and research
councils. Some of the relief’s
require authorisation from the appropriate authorities so advance
planning is important. Some manufacturers of medicines use alcohol
in the manufacture of their medicines. In many instances excise
duty paid on the alcohol is potentially refundable. Customs are
much more likely to accept that homeopathic “medicines” are
indeed medicines and therefore potentially
eligible for duty relief. As the excise duty on alcohol is high,
significant amounts of money
can be saved.
Solutions to help you succeed
Our customs and international trade services
can help you focus on:
- Innovating in research management to deliver innovative product;
- Accelerating set-up, execution and reporting in new product development; and
- Launching products quickly on a global basis.
Some manufacturers of
medicines use alcohol in the manufacture
of their medicines. In
many instances excise duty paid on the alcohol is potentially
refundable. Customs
are much more likely to accept that homeopathic “medicines” are
indeed medicines and therefore potentially
eligible for duty relief. As the excise
duty on alcohol is high, significant amounts of money
can be saved.
|
|
