Customs warehousing procedure

1. storage of goods:

• Goods may be stored in a customs warehouse for an unlimited period of time, provided that the customs warehouse meets all formal and technical requirements.
• These goods remain under customs supervision, which means that customs authorities have the right to inspect and monitor them.

2. No customs duties or taxes:

• During the period that the goods are in the bonded warehouse, the trader does not have to pay import duties, VAT or excise taxes.
• These duties are deferred until the goods leave the customs warehouse for marketing in the EU or are subjected to another customs procedure.

3. Operational flexibility:

• Goods stored in a bonded warehouse may be processed, repackaged, divided into smaller lots, labeled, and may be prepared for sale or further transportation.
• It is also possible to carry out quality control of goods.

4. Different types of bonded warehouses:

• Public storage: available to all businesses, various companies can use it.
• Private warehouse: intended for a specific entrepreneur who himself owns the goods stored in the warehouse.

5. Decision on the further fate of goods:

• Goods may leave the customs warehouse for further processing, sale on the EU market, re-export outside the EU, or entry into the market after payment of applicable duties and taxes.
• Goods may also be placed under another customs procedure, such as inward or outward processing.

• Financial savings: the possibility of deferring the payment of customs duties and taxes until the goods actually enter the EU market.
• Better inventory management: businesses can flexibly manage their inventory without incurring immediate import costs.
• Avoiding fees when exporting: if goods are exported outside the EU after storage in a customs warehouse, there is no need to pay customs duties and VAT, which can significantly reduce costs.