QUESTION: Does this mean a lot of work for the customer?
ANSWER: No, there is no change for the customer and they can keep working in the same manner as earlier.
QUESTION: Do we need to physically separate declared and undeclared goods in our warehouse?
ANSWER: No. You are not required to separate declared and undeclared goods. The most important thing is to have the correct number of undeclared goods in the warehouse. Damco keeps track of whether the goods are customs cleared o not and works with the principle - first in, first out.
QUESTION: What is the procedure for goods that are re-exported to countries outside the EU?
ANSWER: Having been stored in a bonded warehouse, means that the goods have never been customs cleared in Sweden. This means that you never have to pay Swedish duties and taxes when the goods are transited to countries outside the EU.
QUESTION: How can i improve my liquidity?
ANSWER: Since you pay duties and VAT taxes only when the goods are sold and delivered to final customer, you will not have to tie-up this capital for goods currently lying in the warehouse. Furthermore, if you have customers outside the EU, you will not have to pay duties and VAT taxes on these goods.
QUESTION: Is it difficult to handle this administratively for us?
ANSWER: No, Damco handles all the administration and you can continue with business as usual. The only thing that is required of you, the customer is that you pay your duties and VAT taxes as you do today.
QUESTION: How does Damco get the information?
ANSWER: Damco collects the information through daily automatic file transfers in the form of a TXT file.
QUESTION: Do we need to make major adjustments in our business systems?
ANSWER: No, There are completed modules for a majority of the most commonly used business systems that can easily be integrated. We work closely with EVRY who has these complete IT solutions.
QUESTION: Is one really allowed to proceed in this manner and delay payments of duties and VAT taxes to the government?
ANSWER: Yes it is entirely possible. Thanks to Damcos permit and administrative structure, you as the customer for Damco can use of our services to pay duty and VAT when the goods are sold. The only thing that our customers need to do is apply for a Permit for bonded warehouse, which we at Damco can assist with, and be able to transmit / receive the necessary information in a given file format.
QUESTION: How much money can I save and make available in liquid assets?
ANSWER: This depends on how large the value of the goods is in your warehouse, which inventory turnover you have, if your goods are subjected to duties and if you have export to countries outside the EU.
QUESTION: What happens if the goods are imported to Sweden with another forwarder and not Damco?
ANSWER: We at Damco do not require or demand that your deliveries are made in our regie. Gränslöst Tullager® is a neutral product and has no direct connection to the other products and services offered by Damco.