Why You Should Utilize Customs Warehouse in SAP Global Trade Services, edition for SAP HANA
Customs warehousing means that duty-unpaid goods may be stored in any premises authorized by the customs authorities as customs warehouses. While in the customs warehouses, the goods will be under customs supervision and will not be subject to import duties or other charges related to the import of goods or to commercial policy measures (such as import licenses).
In a customs warehouse, goods can be:
- Moved to another customs procedure, for instance, Inward Processing Relief.
Duties & Fees – Exemptions and Deferral
Operating a customs warehouse enables significant financial savings.
- Duties and fees are not payable until the products are released and moved out of the customs warehouse, significantly positively affecting the cash flow.
- Duties are never paid if the goods are re-exported or scrapped.
- Duties are deferred if goods move to another customs warehouse.
Unless the nature of the goods means that they could threaten health or the environment if stored for a long term, goods can be kept duty suspended for unlimited periods.
SAP Global Trade Services, edition for SAP HANA
- Manages the complex tasks associated with customs warehousing
- Automates the tracking of the status of goods in inventory (duty paid or duty unpaid)
- Automates subsequent customs procedures through process determination features
- Represents One instance for all customs-warehousing activities
- Minimizes and defers payment of import duties
- Enhances process efficiency thanks to smooth integration with logistics processes
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