IPR meaning in oil and gas
Definition
Inward Processing Relief
IPR means Inward Processing Relief. One of the various forms of customs status for equipment held offshore in the North Sea. It is the usual status of US origined equipment that has not been imported (i.e. UK tax & duty…
One of the various forms of customs status for equipment held offshore in the North Sea. It is the usual status of US origined equipment that has not been imported (i.e. UK tax & duty paid) into the UK, just sent offshore.
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