Advantages of a bonded or customs warehouse in Europe
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 (value added taxes) must be paid. Depending on your products and product customs HS-codes, also European import duties might be applicable for your intenrational sales transaction. Buyer’s and seller’s responsibilities on VAT, import duties and other items are determined by the agreed Incoterms or Terms of Sale.
By storing your goods at our European customs warehouse, you can postpone the payment of European import duties or VAT until products are actually sold to your European clients. And if your products are ultimately shipped from our European bonded warehouse to buyer’s outside the European Union, (double) payment of VAT and import duties can even completely avoided.