European (bonded) warehousing and storage
Pre-financing European VAT (value added taxes) and European import duties can sum up to considerable amounts, especially for products with a high customs/product value.
Goods exported to/imported into the European Union (EU) have to be released into free circulation before these can be sold and delivered to your European customers. This means that upon arrival of the goods at the EU outside border, European VAT must be paid to the local tax authorities. Please be aware that VAT levels vary per European country.
Depending on your products and customs classification HS-codes, European import duties might also be applicable for your international sales-transaction. Buyer’s and seller’s responsibilities on VAT, import duties and other items are determined by the Incoterms or Terms of Sale.
By storing your goods at our customs warehouse in the Netherlands, payment of European import duties or VAT can be postponed until products are actually sold to your European clients. And if your products are ultimately shipped from our European bonded warehouse to buyers outside the EU, (double) payment of VAT and import duties could be completely avoided.
Whatever option is most economical for you, be it bonded warehousing or clearance of goods upon entry in the EU, depends on your products, customs value and other aspects of your business. We can provide valuable assistance in this calculation/decision. Ofcourse we also store “free goods” at our safe, secured and heated storage facilities.
Your advantages of a customs/ bonded warehouse in Europe:
- Bonded storage requires no pre-financing of European VAT and/or duties
- Free up working capital by paying per sales order instead of bulk payment at import
- Postpone customization of sales orders to final sale (example: manuals, connectors)
- Ensure fast, economical delivery to your European customers from your EU stock
- Re-shipping outside European Union without double payment of VAT or duties
- In the Netherlands, VAT can be deferred (only possible in few EU countries)