The Langdon Warehouse Module is fully compliant with Customs Authorities requirements for all Customs Warehouse types. When goods are issued from the warehouse a declaration is sent to Customs providing the information required for accurate and timely payment of Import Duty and VAT. The required statistical data relating to the issued goods is also sent to Customs.
Goods can be issued from the Customs Warehouse to another authorised Customs regime, such as IPR or PCC where Import Duty and VAT is suspended. In these cases the Langdon Warehouse Module sends a declaration to Customs when the goods are issued to the new Customs regime informing them, as is legally required.
The Langdon Warehouse Module can also be seamlessly used with other modules from the Langdon Duty Management System, including the Import Module, the IPR Module and the Export Module. Together they provide a complete solution to a companies Duty Management requirements.
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The Langdon Warehouse Module also includes additional functionality that is not required by Customs but is essential for the correct management of stock and to ensure the minimum Duty permissable is declared. These include:
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- Optimising the removal of stock, by shipping duty free and duty paid stock to meet particular orders
- Prioritising the removal of stock once a decision has been made to issue the stock from the Customs Warehouse
- Revaluation of stock to ensure the correct Duty value at the time of removal from the warehouse
- Ensures the correct duty calculation of stock in relation to:
- Specific currency exchange rates at the time of removal
- Current preference status of countries from which the goods were sourced
- Current quota, ceiling and preference rates at the time of removal
- Comprehensive management reports produced detailing stock availability, issues made, duty and VAT owing etc
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