Calculating the reference amount for the comprehensive guarantee
The amount for a comprehensive guarantee must correspond to an established reference amount. In your application for authorization, you must provide a provisional reference amount. Find out how to calculate the amount below.
In the application for authorization for a comprehensive guarantee, you enter a provisional reference amount. Swedish Customs will then review the amount and determine a final reference amount. We do this partly based on the information you provide in the application and partly based on other available information. The final amount may therefore be different from the one you enter in the application.
The guarantee must cover all debts
The reference amount should be set at the maximum amount of the customs duties and any other charges. If the customs duties and other charges vary over time, the guarantee amount must be sufficient to cover the customs duties and, where applicable, other charges at all times. If you have a comprehensive guarantee authorization, it is you obligation to monitor that the current reference amount is not exceeded.
The reference amount is calculated slightly differently depending on whether the guarantee is to cover existing debts, for example in the event of a suspension of payments, or debts that may arise. The latter may be relevant, for example, in the case of special procedures and temporary storage, where customs duties and other charges may be incurred if the procedure or storage is terminated incorrectly.
Depending on your business, you may need to provide a guarantee either for existing debts, for debts that may arise, or both.
For the guarantee to cover customs duties and other charges incurred, the reference amount should be equal to the amount of customs duties and other charges to be paid. If you are registered for VAT with the Swedish Tax Agency, you do not normally need to provide a guarantee for VAT.
To enable Swedish Customs to determine the reference amount for debts that have arisen, it is important that you describe in the application in the field “Description of the guarantee’s reference amount” how you arrived at the amount and provide information on the value of the goods, customs duty, other import charges and any VAT.
Example of a preliminary calculation of the reference amount for existing debts
The reference amount should correspond to the debts the company has during a six-week period. This is roughly equivalent to dividing the annual amount by 8.
- the value of the company’s consignments in one year is SEK 5,000,000.
the duty rate is 5%.
- 5% of SEK 5,000,000 = SEK 250,000.
The provisional reference amount for six weeks is 250,000/8 = SEK 31, 250.
Those who have an AEO authorization for customs simplifications can have the guarantee amount reduced to 30%. The amount is then 30% of SEK 31,250 = SEK 9,375.
Debts that may arise
For the guarantee covering customs duties and other charges which may be incurred, the reference amount shall be the amount of customs duties and other charges that may become payable during the period specified below:
1. For goods placed under the end-use procedure: from the moment the goods are placed under the procedure until the supervision of the goods is discharged.
2. For goods placed under other customs procedures: from the moment the goods are placed under a customs procedure until the procedure is discharged.
3. For goods in temporary storage: from the moment the goods are declared for temporary storage until the temporary storage ends.
To enable Swedish Customs to determine the reference amount for debts that may arise, it is important that you describe in the application in the field “Description of the reference amount of the guarantee” how you have arrived at the amount and provide information on the value of the goods, customs duty, other import duties, any VAT and the average period between the placing of goods under a procedure and the discharge of the procedure.
Normally, you do not need to add VAT to the reference amount, except in the case of transit where VAT must always be included in the reference amount.
Example of a preliminary calculation of the reference amount for debts that may arise:
The calculation in this example is based on the guarantee covering national taxes and duties.
- Six months has been specified as the average time between the placing of goods under a customs procedure and the discharge of the procedure.
- The value of the goods during 6 months is SEK 1,000,000
- The rate of duty is 1.5%
- Other import charges, such as excise duty, are SEK 5,000.
the VAT rate is 25%.
The provisional reference amount should include the amount of customs duties, other import charges and VAT.
Customs duties: 1.5% of SEK 1,000,000 = SEK 15,000
Other import duties: SEK 5,000
VAT: 25% of SEK 1,020,000 = SEK 255,000
The provisional reference amount for the period will then be SEK 275,000 (15,000 + 5 000 + 255 000).