Temporarily Imported Goods To China
Question
I am looking to temporarily import some mechanical goods into China. The goods are pipe equipment for oil and gas industry, coming from Europe.
The reason for importing to China is for the imported goods to have some components (made in China) fitted to the imported items.
The imported goods value will be around £800k GBP and will be (re)exported from China within 3 months.
Are there any duties to be paid for this situation?
Does a refundable deposit need to be paid? (refunded upon export of goods from China)
Is there any charge for temporarily importing?
Many thanks
Answer
Hi,
Yes you can temporarily import goods, not pay VAT and do so for 6 months. If the goods do not leave the country then you must pay VAT and any import duties for the goods concerned.
Your consignment shipper or shipping broker in the UK can help to raise the paperwork.
Peter