Paying the correct amount of import duties, not too much, not too little. And not paying at all if it’s not necessary. Optimal use of customs procedures – such as transit, inward processing or temporary storage in a customs warehouse – is essential to achieve this. However, this requires good administration and process management.
A customs warehouse, regardless of its type, is a location where customs goods are stored under suspension of import duties and VAT.
It is, of course, essential that the administration of a customs warehouse is accurate. Incorrect entries and withdrawals of goods can lead to discrepancies, either surpluses or shortages. In some cases, goods stored in a temporary storage facility (also referred to as RTO) need to stay longer. When this happens, they are moved from the RTO to a customs warehouse.
1. Conduct periodic internal audits
Regularly verify that the administrative stock matches the physical stock. In addition, identifying in time whether the required financial guarantee is still sufficient, is also part of an internal audit. Would you like advice on how to structure an internal audit and which points should not be overlooked? We are happy to set up a control framework for you.
2. Check quantities, values, and CN codes
The customs warehouse authorisation specifies quantities, values, and CN codes. Periodically confirm whether these still align with the authorisation. CN codes may change, new products may be stored, or values may increase. In such cases, proactively contact Customs to address these changes.
