Overview of customs regimes and procedures requiring prior authorisation or approval: Simplified Import VAT Accounting (SIVA) Scheme
Economic operators may be authorised to use the Simplified Import VAT Accounting (SIVA) scheme. SIVA is a scheme that allows economic operators to defer import VAT without providing a guarantee to secure the payment.
SIVA is only available to economic operators who hold an authorisation or are applying for a deferment account.
The following benefits are available to economic operators authorised for SIVA:
· The operation of a deferment account for import VAT payment purposes without a bank guarantee to secure its eventual payment.
The introduction of the Code has resulted in the following changes for SIVA:
· Businesses wishing to be authorised for SIVA will be required to meet the same authorisation standards as those needed to obtain a comprehensive guarantee waiver for customs duty (AEOC standard).