If you think custom costs are set in stone, you’re in for a pleasant surprise! With careful planning and a solid understanding of rules and regulations around importing goods, it’s possible to decrease customs costs if they are higher than they should be, improving the profitability of your operations.
Let’s get this out of the way: if you undervalue or mis-declare goods, whether intentional or not, know that the government will take notice and crack down on this tactic, which means more delays, and the potential for fines, imprisonment, and other consequences. To be clear, this is not a good way to decrease customs costs!
With that said, here’s how to lower your costs responsibly.
Why Costs are High
Customs costs stem from the duty — taxes or tariffs — payable on what you are moving across the border. Each country has its own tariffs, import taxes, and duty obligations, all of which require careful compliance. It won’t look the same from country to country, and knowing that is the first step to decreasing your costs. Free trade is hard to come by these days, but knowing what you’re selling and where can help you direct imports to countries where customs costs are lower for your specific product or supplies.
Any time you make a mistake or try to sneak something by the government, you run the risk of penalties, as we mentioned above. These penalties drive up your costs, both directly and indirectly, as you pay for delays, fines, and damage to your organization’s reputation.
Working with a Logistics Expert
We’re called experts for a reason! Logistics experts know all of the ins and outs of customs costs across the globe. We know the rules and provisions you can leverage to make the most of the money you are spending, avoiding artificially driving up costs through careless or even unintentional mistakes.
For example, if you’re importing something to the USA, you can declare the customs value of those goods if they’re unaltered from a previous sale. In other words, if you purchased something for $100 from China, and you’re reselling them to an importer in the USA for $150, you can still declare the value as the $100 of the original sale. It’s a quick way to decrease costs, but unless you understand the intricacies of agreements and costs between countries, you may just miss that opportunity entirely.
We also work to cut out the chance for non-compliance and other mistakes to drive up costs. Working with a logistics expert, you can avoid penalties and similar risks by putting it all in the hands of the people who really know what they are doing. It all adds up to cost savings.
www.divorceattorneydallas.pro
THE BARBOSA LAW FIRM, P. C. was founded in 1988 by Roland Barbosa, Attorney at Law. Our family law firm in Dallas was established in the tradition of a small boutique style practice. We value our relationship with our clients and strive to provide direct, effective, personal, and professional communication.
electwellness.com
Elect Wellness: In-home personal trainer Dallas TX. Home-delivered fitness trainers Dallas. Personal training and daily nutrition coaching.
wettstein.ca
Criminal lawyer in Toronto.
shoppingblog2k.com
As a visitor, you will have the opportunity to post comment and rate products. Besides rating products, you can also window shopping from home or work! This is the website where you can find top selling products. Whether you are looking for popular electronics, clothing and accessories, or toys, this is the home shopping blog for you!
www.anoblepurpose.com
ASEA financial income opportunity through your own MLM network marketing company.
The Barber Law Firm
The Barber Law Firm is a highly rated personal injury law firm serving Dallas, TX and surrounding areas.
medstorkrx.com
MedStork Rx is the preferred provider of pharmacy services for pet owners, families, physicians, and injured workers. We are committed to providing the best, most professional, and most convenient pharmaceutical services in Texas.
blueedgetech.ca
Computer hardware business services.
kwgcnt.org
Public warehousing services by Robertson & Johnson Warehouses, Inc. in Dallas, TX. We can handle all of your public warehousing needs.
www.dallasfenceexperts.com
Anthony’s Service Company is a residential and commercial Dallas fence company/contractor/builder specializing in cedar, wood, and iron fences. Call for installation, repair, and staining of a fence Dallas, Texas area.