The legal responsibility for correctly declaring the value, classification, and other information necessary to assess the duty rate applicable to imported goods lies with the importer. The importer (and the exporter in the case of exported goods) must use “reasonable care” to ensure that they provide information to Customs that is accurate, complete and authorised.
Furthermore, the “long-arm” of the Customs authority has the potential to affect your product from the time of its design through to its finish and beyond. You may experience the “presence” of Customs in the following areas:
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New investments; Mergers & acquisitions; Joint ventures
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After sales service; Refurbished goods, used goods
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Intellectual property registration, enforcement and monitoring
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Customs investigations
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Corporate restructuring
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Corporate communications
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Corruption
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Record keeping; document retention
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Direct tax; Transfer pricing audits and documentary requirements; Year-end transfer pricing adjustments
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Environmental concerns
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Excise tax
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Export Controls
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E-commerce
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Processing/manufacturing under Customs control (e.g., Processing Trade in China, free trade zones)
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Human resource
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Health and safety (standards, labeling, licensing, etc.)
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Data integrity; Company integrity
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Customs valuation/transfer pricing
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Product design (R&D)
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Security matters (C-TPAT and AEO)
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Supply chain
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Sourcing strategy
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Non-tariff barriers
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Trade policy
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Trade facilitation
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Terms of trade (INCOTERMS 2010)
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VAT/GST & Sales Tax
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Customs/bonded warehousing
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There are significant financial savings and operational benefits for companies which not only recognize the benefits of customs planning but also in incorporating customs compliance into your total business planning process. Thus, it is important that you take full control of your customs operations and ensure they are fully compliant with Customs regulations and requirements.
When reviewing your operations, do you ask yourself the following questions?
- Is your business exposed to customs and other trade and trade policy requirements?
- Have you completed a risk assessment for your business and, as part of that assessment, did you quantify the burden of customs duties, compliance costs and the potential costs of non-compliance?
- Have you reviewed your supply/value chain to ensure you are taking full advantage of all available means of minimizing customs duties, compliance costs and direct taxes?
- Are there dedicated personnel in your business with the responsibility for customs planning and compliance, and are their inputs integral to the business process?
- Do you know how information is communicated within your company and whether essential communication is flowing to the right personnel?
Bryan Cave International Consulting (“BCIC”) sees our work with you as a partnership; we make it our business to understand your business. We also see you within your industry’s competitive landscape – the market that you are in or is entering in a particular country, the business cycles, the trends and other factors presenting challenges to your industry. Our consultants have extensive experience in the Customs administrations of their respective countries, in industry and in consulting; our solutions are compliant with regulatory requirements and workable in your operations.
