Tax Warehouse Bonds | BBi Ireland
BBi Ireland can arrange independent or Tax Warehouse Bonds to protect your business, vehicles, people and more. Get in touch to discuss your requirements today.
What is Tax Warehouse Bonds?
tax warehouse bond is a financial guarantee provided to Irish Revenue by the warehouse proprietor. It covers the potential liability for import duties, excise duties, and VAT on goods stored within the bonded facility. The bond ensures that if the operator fails to comply with obligations, Revenue can recover applicable duties and taxes.
Who Requires Tax Warehouse Bonds?
- Warehouse proprietors holding authorisation to operate bonded storage facilities
- Importers storing goods under customs control before domestic sale
- Traders handling excisable products requiring deferred payment facility arrangements
- Businesses receiving goods in transit for re export without duty payment
Revenue guidelines mandate that any entity operating a tax warehouse must maintain an adequate bond throughout the authorisation period.
Why Choose BBi as a Broker Partner
Our Heritage
Dedicated Account Manager
We have specific service level agreements with insurer partners, ensuring our clients get a great service.
In-house Claims Team
BBi Ireland has an experienced team of professionals looking after your needs when you need us the most.
35+ years’ experience
With up-to-date knowledge of the latest legislation and health and safety issues faced by companies across Ireland.
Flexible Cover
Our cover and payment methods are flexible so you can choose the option that suits your business needs.
One Stop Shop
We can arrange cover for a wide range of business and personal insurance requirements.
What Can Tax Warehouse Bonds Cover?
Many warehouse operators face significant challenges: complex paperwork, uncertain bond requirements, and the risk of costly penalties if an operator fails to meet compliance obligations. BBi Ireland specialises in arranging tax warehouse bonds that address these concerns directly, with deep knowledge in Irish Revenue requirements and established relationships with authorised insurers.
Get protected today
Operating a bonded warehouse without proper security arrangements puts your authorisation and business at risk. Irish Revenue requires adequate bonding before goods can be stored under customs supervision.
Our dedicated team provides straightforward guidance, and complete support from application through ongoing management. We understand the urgency of compliance requirements and work efficiently to deliver your bond without delay.
Frequently Asked Questions
It’s important to get the right Tax Warehouse Bonds for your business. To help you do that, here are our frequently asked questions about Tax Warehouse Bonds. If you’d like some independent advice, please call us on +353 49 433 1038, and the team will be happy to help.
Tax warehouse bonds specifically cover excise duties on products like alcohol and tobacco within tax warehouses. Customs bonds cover customs duty on imported goods in customs warehousing. Some operations require both depending on goods handled.
With complete documentation, we typically arrange bonds within two to four weeks. Complex cases or larger guarantee requirements may take longer, though we prioritise urgent applications.
Bonds are generally retained until all liability is cleared or transferred. If selling your business, we coordinate with the buyer’s arrangements to ensure seamless transition and proper discharge of existing security.
Revenue can revoke warehouse authorisation, requiring immediate payment of all deferred duties and taxes. Penalties apply, and goods may be detained until compliance is restored.
The cost of a Development Bond depends on several factors, including the value of the works being guaranteed, the financial strength and track record of the developer, and the perceived risk of the project. BBi Ireland will provide a tailored quote based on your specific project details.
