When goods arrive from a third country, they may be placed under a customs warehousing procedure, deferring import duties and import VAT until the goods are released for free circulation.
Source: https://ec.europa.eu/taxation_customs/business/what-is-customs-procedure_en#customswarehousing
Tools that match this term
You might also be interested in these terms
Analyze all 11 Incoterms 2020: cost matrix, risk timeline, insurance gap detector and customs responsibility – free, no login required.
Weekly: Top news, industry facts and insights from the world of logistics – free.
Content reviewed and editorially cleared.
Share your knowledge, ask follow-up questions, or add practical insights to this page. Every contribution is moderated before publication.