Bonded Warehouse

CUST Customs Compliance Filing Special Procedure

Take advantage of the customs bonded warehouse procedure with the right software in place

Customs Compliance Software

Get the most out of the benefits of the customs bonded warehouse procedure with MIC-CUST® BWH

Effectively managing customs regulations is crucial for businesses looking to reduce their duty liabilities and enhance operational efficiency. The MIC-CUST® BWH software module for the customs bonded warehouse procedure allows companies to store imported goods without incurring customs duties or VAT, providing financial flexibility and facilitating smoother cash flow management. This strategy not only helps mitigate upfront costs but also allows for adjustments to seasonal demand and inventory needs. 

Utilizing bonded warehouses can lead to significant tax savings, especially when goods need to be re-exported. However, compliance with regulations is critical and any changes in classification or inventory status must be accurately documented and reported. Advanced IT software solutions can automate these processes, ensuring timely compliance with customs requirements and enhancing visibility throughout the supply chain. By integrating this, businesses can focus on growth while maintaining accurate trade compliance.

Benefits

Cost Savings and Cash Flow Flexibility

MIC-CUST® BWH for customs bonded warehouse procedure enables businesses to store imported goods without immediate customs duties or VAT, allowing for better cash flow management and deferred tax payments until goods are released

Enhanced Inventory Control

Our software solution automates inventory management and reconciliation, ensuring real-time tracking and compliance with customs regulations, while simplifying reporting of changes like repackaging

Optimized Duty Calculations

Support for multiple customs duty calculation methods allows businesses to enhance tax efficiency, helping you navigate international trade with confidence and compliance

Highlighted Product Features

Comprehensive audit trail

Our software solution ensures a complete audit trail, documenting each inventory transaction from customs declarations to final stock reductions, enhancing transparency and compliance with international trade regulations.

Precise inventory management

Track every inventory addition and removal with exact categorization, ensuring alignment with customs regulations and bolstering operational efficiency in global trade.

Smart picking

Depending on whether the goods are imported locally into free circulation or (re-)exported, a decision is made on a case-by-case basis as to which stock (Union goods or non-Union goods) the goods are taken from.

Dynamic import limits management

Manage import limits effectively based on tariff classifications, quantity, and value, optimizing cash flow and ensuring adherence to customs authorizations while minimizing tax liabilities.

Configurable stock withdrawal logic

Leverage flexible stock withdrawal methods such as first in, first out (FIFO) and prior export principles to enhance inventory control and meet fluctuating market demands.

Tailored ‘Fill or Kill’ stock withdrawal option

Employ a customizable 'fill or kill' feature for stock withdrawals, ensuring compliance while optimizing inventory turnover and reducing excess holding costs.

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Get in touch

Have questions about our company or products? Reach out to us, and our sales team will be happy to assist you. Or take advantage of the opportunity to explore how MIC solutions can elevate your business, with expert guidance from one of our specialists.