While the global economy remains in a state of flux, international business persists. Indeed, companies who continue to conduct business across the globe can manage to stay afloat and to grow if they stay true to their business plan as well as their clients and customers.
And staying true to these things simply requires that all international industries remain in compliance with international trade laws. New companies looking to get involved can find themselves in healthy competition, too, by learning about the various regulations involved with international trade.
When you do business internationally, you have to be prepared to pay import duties and taxes. This is a serious responsibility that can—and will—affect the longevity of your business. To keep it simple, duties are type of international tax designed to maintain regulation of industry; it ensures that companies properly, and legally, transport goods across borders so that their products remain safe and their business practices remain legal.
While it may be easy to understand what customs (and duties) are, making sure to obey them and pay them properly can be a little more complicated. If you own a business and want to branch out internationally, customs duty is something you are going to have to deal with.
Fortunately, you don’t have to do this alone if are not equipped, or don’t want to take on the additional responsibility. Indeed, there are many Clearit.ca customs consulting firms that are professionally trained and experienced in this field and are prepared to help you handle your responsibilities.
Customs consultants help to determine exactly what your customs needs are. First of all, you need to know where you are shipping to and where you are shipping from. Each country has different regulations regarding international shipping. Secondly you will need to understand how tariffs and restrictions apply to the things you will be shipping—according to size, value, purpose, etc.
Duty Free and NAFTA Certification
It is also important to know when goods and services may fall under duty free classification and NAFTA certification. These can save you money and time and can also provide you with additional benefits or opportunities that might not be available with the transport of traditional goods and services.