Definition: Temporary admission (of goods) for inward processi...

Category: Customs terminology

This means the customs procedure under which certain goods can be brought into a customs territory conditionally relieved from payment of import duties and taxes; such goods must be intended for re-exportation within a specific period after having undergone manufacturing, processing or repair... "compensating products" means the products obtained during or as a result of the manufacturing, processing or repair of the goods temporarily admitted for inward processing... [they] need not be obtained solely from goods temporarily admitted for inward processing; it may be necessary to use goods of national origin or previously imported... Operations allowed under the temporary admission for inward processing procedure may be carried out in premises designated as warehouses for inward processing... compensating products [may be exported to a] free port or free zone [placed]... in a customs warehouse with a view to subsequent exportation or other authorized disposal... or [declared] for home use” (Kyoto Convention, annex E.6, definitions (a) and (c); standard (2), note 5; and standards 34, 36 and 37). http://ec.europa.eu/eurostat/ramon/statmanuals/files/SeriesF_87_EN.pdf