In this two-part series, we explore in videocasts the ways businesses can legally avoid paying customs duty.
NEW SPECIAL INFORMATION HUB ON DUTY SAVINGS
Access videocasts, info sheets, expert blog entries and further explanation on how to save customs duty on one page: https://www.customsmanager.org/duty-reliefs-customs-special-procedures
Inward Processing Inward processing allows imported raw materials or semi-manufactured goods to be processed for re-export within countries by their manufacturers without a requirement that the manufacturers have to pay customs duty and VAT on the goods being used.
There are usually two variants:
one allows the duty to be suspended, while under the
other it is paid and later repaid.
Outward processing
Outward processing is the opposite of inward processing. It allows goods to be processed abroad and, when they come back into a country o be put into free circulation, that duty has to be paid only on the value-added abroad.
Without such a system, duty would have to be paid on the goods as produced in a country as well as on the value-added abroad.
Specific Use
Specific use comprises both temporary admission and end-use.
Temporary admission
'Temporary admission' allows goods to be brought in temporarily to a country with total or partial relief from import duty. Examples of where this procedure might be used would be in the case of goods imported for purposes such as exhibiting at a trade fair or taking part in a music show. In some cases the completion of customs formalities is not required (e.g. temporary admission of means of transport).
The temporary admission is subject to conditions.
End-use
'End-use' is a customs procedure whereby goods may be released for free circulation in a country at a reduced or zero rate of duty on account of their specific use.
End-use promotes the import of certain goods under favourable import duty rates if such goods are destined for certain specific purposes. This procedure allows businesses established in the customs territory of a coutnry to pay low or no import duty for the goods released for free circulation as long as they are used for a specific purpose, such as the construction of ships, aircraft to be used for civil aviation or drilling platforms.
Got questions?
Get Full Access
Where to find more help and support
For online support, join our educational live webinars, subscribe to insightful short Twitter updates and informative YouTube videos, and stop by at our expert blog page, updated weekly: https://www.customsmanager.org/customs-global-trade-blog
We also offer a resources hub that covers a lot of topics, videocasts and step by steps guidance: https://www.customsmanager.org/ -> Resources
There are regular customs and global trade update sessions to discuss what is coming up: https://www.customsmanager.org/customs-and-global-trade-update
Join our wide range of LIVE or online training courses on the customs and global trade topics that matter to you
Subscribe to our free newsletter to never miss an important update on our social media channels and expert blogs and get a round-up on all the important changes, law updates and guidance modifications for the EU and the UK).
You can also call our helpline on 079146450183. The first call is free, after this, we charge a moderate fee to get instant expert support. You can access it at https://www.customsmanager.org/expert-helpline-blog-training-exclusive-briefings
If you know of a business who would also find e-mails or customs and global trade blog entries helpful, please forward it on, or suggest they register to receive them directly to their inbox register to get these updates directly to their inbox.
About Customs Manager Ltd.
Working with us means having a Customs Advisor, Global Trade Expert and Export Controls Consultant, on speed-dial. If you are looking for a customs consultant UK and EU, let us help you trade effectively, efficiently and, of course, compliantly, wherever you want to go in the world.
Need to stay up-to-date with changing customs and global trade rules? We monitor legislation so our clients don't have to. Learn about all changes in our fresh expert blog, join exclusive briefings and ask any questions 24/7 through to the VIP hotline. Or sign up to our no-charge, insightful newsletter.
Entrust us with your training needs and help us to upskill you and your teams in English, German, French and Spanish. We offer pubic and private live, in-house and on-demand (study from anywhere and anytime) courses.
To complete our support for globally trading businesses, we are also a UK Customs Broker. We act as a customs clearance agent on behalf of many EU and UK businesses, assisting with customs documentation and all other formalities to ensure the customs clearance of our goods. Whether you’re seeking a long-term partner to look after your customs clearance or require support for a one-off shipment, please don’t hesitate to get in touch to discuss your requirements.
Important Notice
Customs Manager Ltd. owns the copyright in this information unless other sources are identified.
You are not allowed to use this information in any way that infringes the intellectual property rights in it. You may have to hold a valid licence to use this information. A licence can be obtained by becoming a Premium subscriber to the Customs Managers’ Trade Intelligence service. As a Premium subscriber, you may download and print this information which you may then use, copy or reproduce for your own internal non-profit-making purposes.
However, under no circumstances are you permitted to use, copy or reproduce this information to profit or gain.
In addition, you must not sell or distribute this information to third parties who are not members of your organization, whether for monetary payment or otherwise.
This information is intended to serve as general guidance only and does not constitute legal advice. We cannot guarantee the quality, content, or accuracy of the information provided on this page as laws and information change regularly. Moreover, the application and impact of laws can vary widely based on the specific facts involved. This information should not be used as a substitute for consultation with professional legal or other competent advisers. Before making any decision or taking any action, you should consult a Customs Manager Ltd. professional.
In no circumstances will Customs Manager Ltd, be liable for any decision made or action was taken in reliance on the information contained within this document or for any consequential, special or similar damages, even if advised of the possibility of such damages.
Comments