Did you know… Customs Bond Stores are part of a Government dispensation to help your company improve its cash flow and to save money?
This benefit can be attained over a period of two years from importation, or even longer when combined with similar Government dispensations.
The Two Broad Categories of Bond Stores Include:
- OS (Operating Store) – a standard Bond store for the storage of goods.
- SOS (Special Operating Store) – a special Bond Store for the storage of goods for specific or special circumstances.
Both duties and VAT may be deferred for a period of up to two years in a Bond Store. Thereafter, one is obligated to clear the goods Ex Bond and pay the duties and VAT. Numerous other Ex Bond options are available such as Rebating, Change of Ownership and Re-Exportation of goods.
The new Customs legislation makes a clear distinction between Bond Stores which are intended for “Private” use, and those which are intended for “Public” use.
The Customs Hub specialises in Bond Store applications, as well as applications for Surety Bonds. Please call us for advice or a quotation.