Importer of record (IOR)
Legal entity registered as responsible for import formalities and obligations in a country.
Official Importer (Importer of Record — IOR)
The Importer of Record (IOR) is the legal or natural person designated as legally responsible for the importation of goods into a country. The IOR is the debtor of customs duties and taxes.
Bonds
The IOR is responsible for tariff classification, declaration of customs value and origin, payment of duties and taxes, compliance with applicable regulations and retention of documents.
IOR in the EU
In the European Union, the IOR must be established in the customs territory of the EU (with exceptions). Non-EU companies must generally designate a European IOR.
IOR Services
Many providers offer IOR services for companies that do not have an establishment in the destination country.
Strategic issue
The choice of IOR has tax, legal and operational implications. It determines the place of deduction of VAT and liability in the event of non-compliance.