entry for warehouse

(U.S. Customs) A type of U.S. Customs entry where the release of goods (and payment of duty) is postponed by having them placed in a Customs bonded warehouse, where they may remain for up to five years from the date of importation. At any time during that period the goods may be reexported without the payment of duty, or they may be withdrawn for consumption upon the payment of duty at the rate of duty in effect on the date of withdrawal. If the goods are destroyed under Customs’ supervision, no duty is payable. See entry; customs bonded warehouse; entry for consumption.

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