Warehousing and international trade

  • Warehousing and international trade

    Warehousing and international trade

    When moving your goods in and out of the Uganda, you may need some form of customs warehousing. This can give your business the following advantages:

    • it can enable you to delay the payment of import duty and VAT on imported goods, which can help with your long-term cashflow planning
    • if you will be re-exporting to another country, storing your goods in a customs warehouse usually means you won’t have to pay customs duty or VAT
    • if you don’t have the correct licences in place for imported goods, storing the goods in a customs warehouse can give you time to remedy this

    There are two types of customs warehouse. Private warehouses – known as types C, D and E – are for the storage of goods by an individual trader. A public warehouse (type A) is authorised for use by a warehouse keeper who will accept your goods but takes no responsibility for them. You should check that the warehouse keeper is authorised by HM Revenue & Customs (HMRC) and that their excise premises are approved. For the detail, see Notice 196 on the HMRC website.

    You can also read the guide on customs warehousing.

    You can store most types of goods in a customs warehouse, except meat, meat products and any goods requiring a veterinary check.

    If you store pre-financed agricultural goods – goods that are intended for export in an unaltered state – there may be a time limit on storing your goods. For more information on Common Agricultural Policy (CAP) goods see Importing CAP goods and Exporting CAP goods.

    Read about pre-financed agricultural goods on the HMRC website.

    You must keep accurate records, including:

    • receipts showing that the goods have come into the warehouse
    • an inventory of the warehouse, showing exactly what is stored there
    • documentary evidence showing the handling and removal of goods

    Stock records must be kept at type A, C and D warehouses. Records for type E should be kept at your head office. If using computerised records, contact HMRC to ensure your systems are compatible. Your stock records must be kept for four years after the removal of the goods they relate to.

    Read about regulations on the transfer of goods between warehouses on the HMRC website.

    Daks Couriers Limited has a number of warehouses to keep your packages safe.

    It's only fair to share...Pin on PinterestShare on FacebookShare on Google+Tweet about this on TwitterShare on LinkedIn

    Leave a comment

    Required fields are marked *