Customs Warehousing and Temporary Storage Facilities provide opportunities for the suspension of import taxes, which can provide huge cash flow savings for importers, or in the case of re-exports, actual tax savings.
This Coventry Academy Training Course covers all types of warehousing available which allow a suspension of import taxes, including customs warehousing, excise warehousing and temporary storage facilities, including the differences between such facilities, the benefits of each and what type of companies can operate each sort. You will also learn about various options available when operating such a facility, such as CFSP, EIDR and inventory linking.
The course will end with an overview of the application process and considerations for any business wanting to apply for such a facility in the future.
This training course will feature:
What are the Definitions of Customs Warehousing, Excise Warehousing & Temporary Storage
What is the difference between an ITSF & ETSF
What are wharf approvals for ports
Definition of Customs Comprehensive Guarantee for potential debts
What are the goals?
By the end of this training course, participants will be able to:
Explain the Entry in Declarants Records when used with Customs Warehousing
Clarify the Excise Movement Control System (EMCS) & Excise Warehousing
Define the Transit Procedures to and from Temporary Storage
Know what facilities importers can apply for
Who is this training course for?
This Coventry Academy Course is designed for people who are joining exporting and experienced businesspeople who may need to keep up with industry updates.
It is suitable to a wide range of professionals but will greatly benefit:
Freight Forwarders
Clearing Agents
Warehouse Keepers
Ports
Importers
Logistics
Distribution
How will this training course be presented?
This Coventry Academy training course will use a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the materials presented. The training course will be lively and interactive and will include tests and exercises, role plays, case studies, practice sessions, group discussions and presentations and Q&A.
Participants will receive personal feedback on their performance. The learning experience will be supported by manual containing model documents and templates.
Course Outline
Day One: Customs Classification Definitions
Definitions of Customs Warehousing, Excise Warehousing & Temporary Storage
The Difference between an ITSF & ETSF
Wharf Approvals for Ports
Customs Comprehensive Guarantee for Potential Debts
What Facilities Importers Can Apply For
Customs Freight Simplified Procedures when used with Customs Warehousing
Day Two: Customs Warehousing
Entry in Declarants Records when used with Customs Warehousing
Excise Movement Control System (EMCS) & Excise Warehousing
Transit Procedures to and from Temporary Storage
Transit Simplifications Available
The Role of Inventory Linking with Temporary Storage
What Facilitates Freight Forwarders & Public Warehouse Keepers Can Apply For