GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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13:53 Apr 13, 2004 |
German to English translations [PRO] Law/Patents - Law: Taxation & Customs | |||||||
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| Selected response from: David Hollywood Local time: 22:24 | ||||||
Grading comment
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transfer to a customs free zone Explanation: certain transactions, import to a customs free zone is advantageous, as no customs duty or import VAT is payable at the time of transfer to a customs free zone ... |
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Überführung in den zollrechtlich freien Verkehr transfer into duty-free rotation of goods Explanation: My first idea. |
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within one year of customs clearance Explanation: within one year of the processing procedure undertaken by the customs authority to "clear" the goods for use as stated in the customs declaration -------------------------------------------------- Note added at 26 mins (2004-04-13 14:19:47 GMT) -------------------------------------------------- by \"cleared\" I mean freed from customs duties / given over to (customs duty) free disposal |
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perhaps Explanation: The merchandise must be shipped to its intended destination no later than 12 months following the clearance of a customs declaration for entry into customs-free circulation for a specific use; or, upon receipt, be made available to another eligible purveyor for its final distribution. Even if you import stuff into the country that is not subject to customs duty, you still have to declare it to get a waiver. You can then furnish it to other distributors who are presumedly listed on the waiver form. Eg, after 9/11, the anthrax medicine that was exclusively made by Bayer of Germany certainly did not require customs duty to enter the US -------------------------------------------------- Note added at 2004-04-13 14:43:12 (GMT) -------------------------------------------------- in the US, \'one year\' is always referred to as 12 months in legal documents -------------------------------------------------- Note added at 2004-04-13 14:46:05 (GMT) -------------------------------------------------- or; circulation WITH a specific purpose |
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removal to free circulation Explanation: The particular term you were having difficulty with is, for us tax professionals, "removal to free circulation". |
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