An insight into EORI Report registration
Following a successful EORI Registration it is necessary that the person also registers for EORI reports which is significant in import and export along the lines of the EU. The purpose of inducing Economic Operator Registration and Information reports is to assist traders that had been formerly provided with a TURNs (Traders Unique Reference Numbers).
The entries related to report lists that are made by the trader is to be entered under the designated box, numbered box 44. It is basically a “Header Additional Information Statement” which can either start with AG or BR depending upon the role played by the trader or the person that filled in the EORI Registration form.
Are these reports mandatory?
To a certain extent these reports are indeed mandatory owing to the fact they are controlled under the designated guidelines for a secure trade under the compliance of the EU. These reports help to facilitate proper trade ethics in terms if import and export across the global lines with its inception under the ethics of EU. It is therefore wise to interpret the fact that with ascendance of time, these reports are ought to play a compulsive role.
What are the uses of these reports?
These reports following EORI registration are mostly intended in assisting the process of reconciliation. These reconciliations in particular are carried out against C79 or statements related to Duty Deferment (Duty Rescheduling).
The information that is mostly conveyed through these reports is used for the sole purpose of getting the entries correctly referenced with accordance to the following:
The reports are known to possess no other forms of information other than the ones that have been specified above.