Here at WSI, we know that when it comes to importing goods, there are various taxes and duties to consider.

Today we explain imported excise equivalent goods:

Imported Alcohol, tobacco, fuel and petroleum products (including LPG, LNG and CNG) which are imported are subject to customs duty at a rate equivalent to excise duty. This is to ensure that these particular overseas goods treated consistently with goods manufactured in Australia. These goods are called "excise equivalent goods" or EEG's.

If a customs duty has not been paid on these goods, they will sit "underbond' until the duty has been paid. EEGs can be used in the manufacture of excisable goods.

The ATO administers customs warehouses that keep EEGs. If those customs warehouses keep customable goods (that is, goods subject to customs duty) other than EEGs the ATO administers them as well as the EEGs.  

When it comes to moving underbond customable goods you must get the permission from the ATO as these goods must be kept at an ATO licensed customs warehouse such as WSI under bond warehousing in Sydney.

If the customable goods are to be exported you will need to declare them to the Department of Immigration and Border Protection (DIBP) on an Export Declaration (EDN).

To find out more about container transort and under bond warehousing in Sydney, contact WSI today.