Customs Warehousing

Companies who hold imported goods as stock for any significant period of time should consider the benefits of customs warehousing. Delaying payment of duty/VAT until goods are released from the customs warehouse can bring obvious cash-flow advantages.

Additional benefits of customs warehousing include;

• Non-payment of duty/VAT for goods exported outside the EU. This is particularly helpful if such goods cannot be readily identified at the time of import.
  
  
• Provision to use the value of the goods at the time of removal from the warehouse as the basis for customs duty (enabling duty savings to be made on goods sold below cost).
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• No duty/VAT payable on goods scrapped or destroyed.
  
  

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Customs Warehousing ........................................................................

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