Bonded warehouse are controlled by?

Assessment: WAEC SSCE - Commerce - 1992 (Objective) Subject: Commerce

Question 1 Report

Bonded warehouse are controlled by?
Answer Details
Bonded warehouses are controlled by Customs and Excise authorities. These warehouses are used to store goods that are subject to duties and taxes until the duties are paid and the goods are released for sale or export. The purpose of bonded warehouses is to facilitate international trade by allowing goods to be stored for extended periods without being subject to customs duties and taxes. The warehouses are under the control of customs officials, who monitor the movement of goods in and out of the facility to ensure that they comply with all customs regulations.
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