Watch the webinar recording: Returned Goods Relief & Temporary Admission
Import duties and taxes represent a significant cost for businesses engaged in cross-border trade. But for goods that are returned to their territory of origin or brought in temporarily for a specific purpose, paying full import duties is often entirely avoidable. The challenge for many organisations is knowing which procedures apply to their situation and how to implement them correctly.
Customs Special Procedures can help to reduce import duties and taxes, and two of the most valuable yet underutilised options available are Returned Goods Relief and Temporary Admission. Returned Goods Relief allows goods previously exported from a territory to be re-imported without incurring customs duty or VAT, provided the right conditions are met. Temporary Admission, meanwhile, allows goods to enter a country for a defined period with total or partial relief from import duty, making it particularly useful for businesses moving equipment, samples, or goods for events across borders.
Together, these two procedures offer real and immediate cost savings for businesses that qualify. Yet many organisations are either unaware of the relief available to them or are put off by the perceived complexity of the administration involved. In practice, with the right guidance and the right systems, both procedures are entirely manageable.
Watch our Returned Goods Relief and Temporary Admission webinar to learn how you can avoid payment of customs duty and VAT and start making the most of the relief available to your business.