Security for customs payments
Security for customs payments is a guarantee that duty and VAT will be paid, required for example in transit or when goods are released conditionally.
What is security for customs payments?
Security for customs payments is a cash deposit or bank guarantee that customs may require as a guarantee of payment of duty and VAT — for example when the customs value is adjusted, in transit, or when goods are released conditionally. It is returned once the obligations have been met.
This is a matter between the importer, its customs representative and Russian customs; as a supplier you are not asked to provide it. It can, however, affect how quickly your customer receives the goods.
How it works in practice
Security is required when goods move through the EAEU before clearance (customs transit), when payment is deferred, when classification is disputed or the value is being checked — customs wants a guarantee that the charges will be paid. Forms include a cash deposit, a bank guarantee, a surety or a pledge of property.
For our customers, transit security is usually covered by our customs representative or a carrier with a guarantee, so the importer does not have to tie up its own money for every consignment.
Security for customs payments: frequently asked questions
When does customs require security?
For transit of goods through EAEU countries to the place of clearance, for release before a value or classification check is complete, for deferred or instalment payment, and in some cases of processing and temporary import.
How much is the security?
At least the charges that would be payable on release into free circulation: duty, VAT, excise. For disputed classification — the difference between the declared rate and the rate customs believes applies.
Is the security returned?
Yes, once the procedure is complete: the transit is closed, the value check has confirmed the declared amount, the charges have been paid. A cash deposit is returned to the payer’s account or offset against future payments.
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