CUSTOMS WAREHOUSE
customs warehouse: translation
A place approved by HM Customs and Excise for the storage of goods without payment of import duty. Import VAT is also suspended during storage of warehoused goods. There are several different types of Customs warehouse. While most approvals are for specific locations, in some cases approval can be given to a company and its commercial accounting and stock control systems. In these cases the approval is not linked to a specific location. HM Customs & Revenue Glossary
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Customs warehouse ˈCustoms ˌwarehouse noun [countable] TAX
another name for bonded warehouse ➔ warehouse
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customs warehouse UK US noun [C] TAX, COMMERCE
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