DEFINITION

A Bonded Warehouse is a privately-managed location where it is possible to introduce non-Community goods while keeping them in the foreign country. The warehouse must be authorized by the customs authorities and it is subjected to periodic inspections. Authorization to operate a Bonded Warehouse also allows management under the following schemes:

  • Fiscal Warehouse, where national and European Community goods can be received, assembled, reconditioned, stored and forwarded, always under a customs duties suspensive procedure;
  • VAT Warehouse, through which the goods released for free circulation may transit in order to obtain aid for VAT payment.

There are two parties involved in a Bonded Warehouse:

  • the depositary, that is the party authorized to manage the warehouse;
  • the depositor, that is the party bound by the declaration appointing the goods under the Bonded Warehouse regime.

SUSPENSIVE PROCEDURE

In a Bonded Warehouse, during the storage of the goods, payment of customs duties remains suspended and negotiation of the goods stored therein as if they were still abroad is allowed.

Therefore, the goods are not subjected to customs duties (import duties, VAT or any other tax or quantity restrictions that may apply to the release of the goods for free circulation).

PROCEDURE RELATED TO THE GOODS

Customs Declaration for the classification of goods to be introduced into the Bonded Warehouse

Introduction of goods in the warehouse and recording in the “customs register”

Any handling, removal, transfer and finalization of the goods is carried out in accordance with the regulation

Extraction of the goods with release for free circulation or re-export of the goods

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