Term:
Temporary admission (of goods) subject to re-exportation in the same state
Definition:
"'Temporary admission' means the customs procedure under which certain goods can be brought into a customs territory conditionally relieved from payment of import duties and taxes; such goods must be imported for a specific purpose and must be intended for re-exportation within a specified period and without having undergone any change except normal depreciation due to the use made of the goods" (Kyoto Convention, annex E.5, definition (a)). The Convention on Temporary Admission, a which was agreed at Istanbul in June 1990, provides a detailed description of this procedure and identifies goods allowed for temporary admission.
Domain:
International Trade
Source:
OECD glossary