Customs Warehouse and VAT Tax Warehouse

In order to offer a complete service to customers, Due Torri offers the service of Customs Warehouse and VAT tax warehouse.
Companies using the customs warehouse may, after authorization by the customs authorities, store non-Community goods without payment of import duties and VAT.
The payment of customs duties remains suspended and allows the importing company to negotiate the goods during the storage of the products.
What is the difference between the customs warehouse and the VAT tax warehouse?
- Customs warehousing is the place, authorized by the customs authorities and supervised by them, responsible for storing non-Community goods without being subject to import duties and VAT. Who is authorized to provide a customs warehouse can also manage the “tax warehouse”, where it is allowed to introduce Community or national goods without paying VAT. The transactions of the goods introduced (costs of custody, working, supplies, etc.) are not taxable, the tax liability takes place only at the time of exit from the warehouse on request and by the depositing company. Customs warehousing is convenient when a company buys a significant amount of goods from abroad but does not yet know when the final customer will buy or if the final customer will be in the European or non-European market
- The VAT tax warehouse is a physical warehouse and is a tax system aimed at the custody of national, Community and non-EU goods. The purpose of the VAT tax warehouse is to be able to postpone the payment of the tax at the time of collection of the goods from storage for their sale in the reference market
Advantages of customs warehousing.
- Incentivising and promoting trade. It gives the possibility to purchase goods at a time when supply on the external market is most favorable and to sell when demand on the reference market is most favorable
- It is possible to make the procurement without making the advance payment of customs duties, waiting for the moment of actual trading to make the payment
- Save costs related to goods stored in port warehouses
- Speed up customs clearance by effectively managing customs operations entrusted to a single customs operator
- Goods brought into the customs warehouse may remain there indefinitely, as there is no time limit for the permanence of the goods
- It is possible to process the goods stored in the warehouse itself (re-packaging, blistering)
Advantages of a TAX warehouse.
- It is not necessary to immediately anticipate duties and taxes (VAT) on important goods destined for non-EU markets and on goods destined for the Community or national market. If the future purchaser is national, VAT will be paid by reverse charge; if the final purchaser is European, there will be no need to advance VAT and an intra-Community non-taxable VAT transfer will take place
- It is possible to introduce goods arriving from abroad, after having paid the duties, in suspension of VAT only
Find out what we can do for your company.