Getting retail goods are now easy.
In today’s global marketplace and highly dynamic economy, getting retail goods from their source to your shelves is often the least of your problems. To gain and maintain a competitive edge in today’s cutthroat retail environment, minimizing overheads and shrewdly pricing your products are business imperatives.
Duties & taxes of product imports
As duties and taxes can rapidly erode profit margins that are already lean, you’re eager to minimize duties up front and, wherever possible, reclaim duties and taxes paid by filing corrections to your declarations. You want clear answers and, at times, binding rulings about HS classifications. You want to make sure you’re taking full advantage of free trade agreements and any customs regulations that work to your advantage. And to avoid any penalties that can be a big financial blow to your business, you want the peace of mind that you’re fully compliant with all of the current Customs rules and regulations.
Beyond the nitty-gritty of product imports, you may want to grow your business, and you certainly want to keep it running as efficiently as possible. This might call for a strategic rethinking of certain import processes or even your entire supply chain – a daunting measure, especially if you don’t have the required expertise in-house.
And then there’s the worry and the “what now?” of finding yourself in the midst of a Customs audit…