What is a tax-protected warehouse? What are the conditions and regulations?

x New businesses participating in the import-export process and have a shipment that needs to be put into a tax-protected warehouse but do not know what warehouse this is?
x Units need to build tax-protected warehouses for rent but don't know what conditions and requirements they need to meet?
x Are you confused between bonded warehouses and tax bonded warehouses, wondering if they are the same or different? Is the process of bringing goods into a tax-protected warehouse complicated?

Proship.vn , with many years of experience as a Bonded Warehouse and low-cost warehouse rental unit, will quickly answer the definition of what is a tax-protected warehouse? What conditions are needed to build a tax-protected warehouse? Are there any regulations for this warehouse?...so that your business can clearly understand.

What is a tax-protected warehouse? What items are in stock?

What is a tax-protected warehouse?

Tax-suspension warehouse is a type of warehouse used to store imported raw materials and supplies that have been cleared through customs without tax payment to produce export goods of the tax-suspension warehouse owner. The term tax-suspension warehouses in English is Tax-suspension warehouses.

In fact, tax-protected warehouses are warehouses built by large-scale export/export manufacturing enterprises, with the function of storing raw materials to meet the goods production needs of the enterprise.

The construction and operation of tax-suspension warehouses are under strict supervision of the Customs Department and comply with legal regulations.

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What is a tax-protected warehouse? What are the conditions and regulations? — Tax-suspension warehouses, the English name is Tax-suspension warehouses, are a type of warehouse used to store imported raw materials and supplies that have been cleared through customs but have not yet paid taxes on export production.

What do tax-protected warehouse goods include?

The types of items stored in tax-protected warehouses are diverse and not limited in type and design, depending on the type of business of the enterprise. This means that the goods stored in the tax-protected warehouse are UNLIMITED, are goods that are ALLOWED to be circulated and traded, and are not prohibited. The common point is that raw materials and supplies are imported by enterprises and have not paid taxes to serve the production of export products.

What conditions are needed to build a tax-protected warehouse?

To establish a tax-protected warehouse, businesses must meet the following conditions:

The company was established in accordance with the provisions of law;
Enterprises are subject to enforcement;
Enterprises meet the standards of bookkeeping and documentation systems to monitor warehousing and import-export activities according to legal regulations;
Ensure the location of the tax-protected warehouse is located within the factory area so that the customs authority can easily monitor and manage;
When the tax-suspension warehouse comes into operation, the business owner is responsible for coordinating with the customs authority in supervising and inspecting the warehouse when required.

All decisions related to the establishment, extension of operating time, suspension or termination of tax bonded warehouse operations belong to the General Director of the Customs Department.

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Process of putting goods into tax-protected warehouse

Putting goods into a tax-suspension warehouse will be handled similarly to goods that need to be processed through other normal customs procedures. The quicker point is that businesses do not need to pay taxes to put goods into warehouses.

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The process of bringing goods into the tax-suspension warehouse will be carried out sequentially according to the following steps:

Prepare necessary goods documents;
Complete the declaration and submission of customs documents;
Flow of goods;
Customs clearance.

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Benefits when using tax-protected warehouse

Using tax-protected warehouses brings a number of benefits to businesses, specifically as follows:

Exemption from import taxes and fees:

Businesses are allowed to store goods in warehouses without paying taxes and import fees.

Enhance commodity management:

Provides a safe and convenient storage environment for goods, helping businesses manage and track goods effectively.

Save on shipping costs:

By temporarily holding inventory, businesses can proactively manage shipping schedules and optimize shipping costs.

Export promotion:

Businesses can easily access international markets.

Processing and processing of goods:

Providing opportunities for businesses to carry out outsourcing and processing activities before exporting, helping to increase the added value of products.

Customs clearance support:

Helps businesses access customs services more conveniently, reducing time and effort in carrying out procedures.

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How are bonded warehouses and tax-protected warehouses different?

What is the difference between a bonded warehouse and a tax-protected warehouse?

Proship provides a comparison table based on basic criteria between bonded warehouses and bonded warehouses as follows:

CRITERIA	TAX PROTECTED WAREHOUSE	BONDED
Warehouse rental term	No more than 12 months (calculated from the date raw materials are brought into the warehouse).	No more than 12 months (calculated from the date the goods are placed in the warehouse).
Type of goods stored	Diversify raw materials to serve the production activities of tax-suspension warehouses. These items have been cleared through customs but no taxes have been paid.	Imported goods are waiting to complete procedures and prepare to enter the Vietnamese market. Goods in transit preparing to be exported to a third country. Goods prepared for export, customs procedures completed. Goods forced to be re-exported.
Activities and services are performed in the warehouse	Raw materials imported into tax-protected warehouses are only used to produce the company's own export goods. The management and monitoring of data and status of raw materials in tax-suspension warehouses must comply with the provisions of accounting and statistics laws.	Reinforcing packages, packaging, dividing, packaging, classifying, etc. Transfer of ownership. Sampling goods to meet HQ or management clearance requirements. If the goods are chemicals, petroleum, etc., they meet the requirements and can perform mixing activities or converting product types.

What is a tax bonded warehouse and regulations related to the establishment and construction of warehouses, comparing the basic differences between tax bonded warehouses and bonded warehouses have been shared in detail...Proship Logistics is proud to be a unit specializing in Rent a cheap Bonded Warehouse, if you need to contact us immediately, please contact 0909 344 247 .

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