EBACE Convention News

Equiom Highlights Customs Warehousing

 - May 22, 2014, 7:30 AM

Fiduciary services specialist Equiom, based in the Isle of Man with offices in Jersey and Malta, is at EBACE (Booth 625) to highlight its range of services for aviation clients and its new customs warehousing service. Equiom’s offerings include ownership structuring and multi-jurisdictional VAT, tax and registration services. The company said it specializes in creating bespoke solutions to meet exact client needs, and EBACE provides an excellent face-to-face meeting point.

Equiom recently introduced a customs warehousing service for the Isle of Man and UK. There are a variety of circumstances in which an owner, broker or operator may wish to suspend the payment of VAT (at up to 27 percent) and customs duty (2.7 percent) when bringing an aircraft into the European Union. Such circumstances include bringing an aircraft in, when the final destination is not yet known; re-export of non-EU aircraft; and difficulty at time of import to meet certain conditions.

Customs warehousing also allows discharge to other customs procedures without having to physically re-export the goods, and co-storage of goods that are being processed under different customs procedures.