Removal credit
Payment facility allowing payment of customs duties to be deferred for 30 days after customs clearance.
Collection credit
Removal credit is a facility granted by the customs administration allowing an importer to collect their goods immediately after customs clearance and pay customs duties within 30 days.
Conditions
The operator must provide a guarantee (bank guarantee or guarantee from an approved organization) covering the maximum amount of duties and taxes likely to be deferred. The request is made via SOPRANO.
Advantage
The removal credit improves the importer's cash flow by granting him one month's delay for payment. Combined with the reverse charge of VAT, the importer no longer advances either customs duties (for 30 days) or VAT.
Deadline
Payment is due no later than the 15th of the month following the reference period. Failure to meet the deadline results in the guarantee being called into play and the credit suspended.
Cost
The removal credit is free (no interest), but the cost of the guarantee (bank guarantee premium, typically 0.5 to 1.5% of the guaranteed amount) constitutes an indirect cost.