LEGISLATIVE PROVISIONS IN UCC

Transcription

1 GUARANTEES

2 LEGISLATIVE PROVISIONS IN UCC

3 COMPREHENSIVE GUARANTEES COMPREHENSIVE GUARANTEE TO COVER DEBTS IN RESPECT OF TWO OR MORE OPERATIONS, DECLARATIONS OR CUSTOMS PROCEDURES. AUTHORISATION TO USE A COMPREHENSIVE GUARANTEE WITH REDUCED AMOUNT OR TO HAVE A GUARANTEE WAIVER ABOVE SCOPE LIMITED TO COMPREHENSIVE GUARANTEES ONLY!! RESTRICTIONS AND CONDITIONS IN PLACE

4 COMPREHENSIVE GUARANTEES CHARGES WHICH MAY BE INCURRED Article 95(2) UCC Temporary Storage Transit Procedures (Both Union & Common) Customs Warehousing Procedure Temporary Admission Procedure with total relief from import duty Inward processing End-Use Procedure POSSIBILITY TO APPLY FOR A COMPREHENSIVE GUARANTEE TO BE REDUCED FOR THESE CHARGES

5 COMPREHENSIVE GUARANTEES CHARGES WHICH HAVE BEEN INCURRED Article 95(3) UCC Release for free circulation under normal customs declarations without deferred payment Release for free circulation under normal declarations lodged with deferred payment Simplified Customs Declarations Self Assessment Temporary Admission Procedure End-Use Procedure NO AEO STATUS CANNOT APPLY WITHIN COMPREHENSIVE GUARANTEE FOR A REDUCED AMOUNT FOR THESE PROCEDURES AEO STATUS CAN APPLY FOR REDUCTION TO 30% NO GUARANTEE WAIVER FOR THESE PROCEDURES

6 Comprehensive Application/Authorisation Process APPLICATION FOR ONE COMPREHENSIVE GUARANTEE COVERING CHARGES WHICH MAY BE INCURRED AND CHARGES WHICH HAVE BEEN INCURRED Within Application: Customs Procedures to be covered Applications for Reductions/Waivers where relevant Revenue in consultation with applicant will decide: Overall Reference Amount for Comprehensive Parts of the Reference Amount to be monitored for each procedure Actual amount of a guarantee the applicant must provide (calculated on reductions/waivers granted. Reference Amount = Amount that will be monitored via electronic system or through post clearance checks Amount = Amount of a physical guarantee (e.g. from Bank) that will have to be provided by Applicant.

7 NON AEO OVERALL REF AMOUNT 1,000,000 CHARGES WHICH HAVE BEEN INCURRED NON AEO 100% CHARGES WHICH MAY BE INCURRED NON AEO APPLICATION FOR REDUCTION TO 50% Procedure A Procedure B Procedure C Amount 100,000 (50% reduction) Procedure D Amount 100,000 (50% reduction) Procedure E Amount 100,000 (50% reduction) Example 1 Non AEO Applying for a Comprehensive for 5 Customs Procedures. Total reference Amount 1m Broken down into parts of reference for monitoring in each procedure Actual amount to be provided by Applicant is 700K

8 AEO OVERALL REF AMOUNT 1,000,000 CHARGES WHICH HAVE BEEN INCURRED AEO 30% CHARGES WHICH MAY BE INCURRED AEO APPLICATION FOR GUARANTEE WAIVER Procedure A Amount (to 30%) 60,000 Procedure B Amount (to 30%) 60,000 Procedure C Amount 0 (Waiver) Procedure D Amount 0 (Waiver) Procedure E Amount 0 (Waiver) Example 2 AEO Applying for a Comprehensive for 5 Customs Procedures. Total reference Amount 1m Broken down into parts of reference for monitoring in each procedure Actual amount to be provided by Applicant is 120K

9 QUESTIONS?