Excise tax guarantee insurance
Excise tax guarantee insurance is designed for operators of tax warehouses under the Excise Tax Act. This is one of the means to guarantee excise tax collection. The insurance company acts towards the customs authorities as the guarantor of the insured.
The insurance is arranged in case of failure to pay the assessed excise tax including its accessories to the customs office for which the insurance company provided the guarantee as a result of:
- Violation of the conditions of operation of the tax warehouse;
- breach of the conditions of carriage of selected products with conditional tax exemption
With Excise Tax Guarantee Insurance, you get an affordable alternative to a bank guarantee or depositing funds to a customs deposit account.
EUROVALLEY specialists will be pleased to provide you with further information on this insurance and to prepare an insurance quote.