Insurance of customs guarantees

We offer insurance for tax payment guarantees to the state of Latvia (SRS), related to payment of eventual customs debts or cover of other tax debts administered by customs institutions.

Insurance of customs guarantees operates as guarantee for the state in cases where the entity engaged in customs procedures does not complete a customs procedure and fails to pay the tax due to the state. The said losses (in the amount of tax) will be compensated by insurance.

There are two types of customs guarantees:

• Comprehensive guarantee - applies for a longer period of time (up to one year) and entitles to temporary storage of goods and any customs procedures for the respective goods;
• Individual guarantee - applies for a single customs procedure or a single case of temporary storage of goods.

Where BTA individual guarantees are used for goods subject to excise tax or goods with a large eventual amount of customs debt, BTA offers to accompany your goods from the guaranteed customs institution to the recipient’s customs institution.

• ATA carnet - the ATA carnet is an international customs document with the purpose to facilitate delivery of goods abroad for the time period up to one year. The ATA system of carnets allows Latvian businesses to bring into Latvia or in transit through Latvia the following: exhibits for exhibitions, samples of goods, professional equipment and other goods and facilitates the procedure for provisional export of goods. According to international conventions, the ATA carnet is accepted as a cargo customs declaration and serves as a guarantee for payment of import customs duties. We offer insurance to cover the financial liabilities of ATA carnet owners against the "Latvian Chamber of Commerce and Industry" Ltd.