Warehousing of Goods
This is a process where goods that are supposed to pay customs taxes/duties and have not yet paid are deposited into a bonded warehouse.
This involves management of goods into, within and exiting the bonded warehouse, It includes dutiable goods on which the full duties due have not been paid, and any goods, whether dutiable or not which are imported, exported or transferred.
Benefits of Warehousing of Goods
- To look for funds to clear their tax obligation at their convenience time by differing payment.
- Acquire guaranteed security of their good s on which customs duty has not yet been paid.
- Clear part of the goods, in case they don’t have funds to pay customs duty on all warehoused goods,this allows for cash flow management.
- Has an opportunity to transfer goods to another party while they are still in the warehouse.
- To repackage the goods before clearance of customs duty.
- Importers of selected goods are entitled to different incentives.
- Dam-rage costs are incurred when the goods are deposited into the warehouse.
- Goods are put on auction if the owner of the goods fails to get funds to clear their tax obligation.
- Where there are irregularities noted on the seals, marks and numbers, the officer shall forward the warehousing declaration (IM7) for offence management.
- Where an offence is discovered at any stage,the officer shall seize, raise offence report and refer case to offence management process.
Access User Guides for Warehousing Services below:
Transfer of Ownership of Goods in a Customs Bonded Warehouse
Transfer of goods from Bond to Bond
Generation of Local Manifest
Verification of Goods
Extension of period for Goods that are on the Auction List
Extension of period for Goods whose Warehousing period has expired but not on the Auction List
Clearance of Postal Parcels