Often overlooked, the Community customs warehouse regime can be of great benefit to importing companies for many reasons.
Community customs warehouse, what is it?
The Community customs warehousing procedure allows EU non-Community goods to be stored in suspension of customs duties, import VAT and commercial policy measures within the European Union. These goods remain under customs supervision and can be stored at a service provider.
Have a stock of readily available commodities without affecting cash flow
The introduction of goods into the territory of the Union leads in principle to the payment of customs duties and VAT due on importation, which can represent a significant cash advance pending the resale of these goods. . This is why many companies prefer to import their goods as and when they sell, even if it means increasing the number of shipments to the EU. This pattern, however, poses obvious problems of logistics, delivery times and transportation costs.
The customs warehouse allows to postpone the payment of the customs duties and the VAT due to the import until the moment of the resale. It allows importers to introduce a large quantity of goods at one time and to constitute a permanent stock of goods from third States closer to European customers without affecting their cash flow.
Do not pay customs duties or VAT in case of re-export
The customs warehouse also makes it possible to optimize the situations in which part of the stock is not allocated to a particular market at the time of its introduction. Thus, if the goods placed under the customs warehousing procedure are finally re-exported, customs duties and VAT will not have encumbered this part of the stock, which allows the company to strengthen its competitiveness.
ASD Group simplifies the international development of companies in three areas: tax, customs and social. Thanks to its 30 agencies worldwide, ASD Group can offer logistics solutions for the management of your merchandise stocks. Do not hesitate to contact us.