Customs warehousing is used by many organizations as a means to suspend/defer/minimize import duties and/or value-added tax (VAT) on goods entering the European Union. This is an effective and efficient means to enable importers to choose an optimum time to clear goods and pay duties or re-export them outside of the European Union. While the advantages are significant in terms of cost savings and distribution optimization, storing goods in a customs warehouse can often involve highly complex internal control procedures before the goods can gain approval. The extent and types of processes involved can vary, depending on the nature of the goods, type of warehouse used, distribution plans and Member State customs requirements.
An integrated customs warehouse management (CWM) solution can play an integral role in simplifying procedures, while taking advantage of the maximum available benefits. Descartes on-demand Customs Warehouse Management solution is specifically designed to allow users to manage goods stored under the customs warehouse procedure, by keeping information on imported goods and accounts, tracking all movement and activity, and enabling accurate and timely electronic declaration processing.
Descartes’ Customs Warehouse Management solution has the following benefit-driven capabilities: