According to the new UCC provisions that will enter into force as of 1 May 2016, if goods are put and stored into a customs warehouse in which VAT and customs duties are suspended, it is understood that the value for declaration purposes will be the one of the sale occurring when the goods are leaving the customs warehouse. This will be a significant loss of benefits of customs warehousing and a big change compared to today’s rules. See simplified illustration on the left side (please click to enlarge).
Specific details about the impact and anticipated planning needs to be discussed on a case by case with the client to understand exact operations and authorizations that are in place.
For further details in that regard, please feel free to contact my colleague Michel Anlinker on +41 58 792 51 35 or email@example.com.
* Or when goods are placed under a special procedure other than internal transit, end-use or outward processing.