This one’s for importers: Know your customs responsibilities
Canadian customs laws and regulations are complex and ever-changing, and importers, large and small, appreciate the challenges inherent in navigating such a system. Non-compliance with customs requirements carries a range of penalties, the severity of which varies with the nature of the infraction. And while the.
Should I maintain my own HS Classification database?
We defer to experts for all kinds of things: maintaining our cars, fixing our computers, filing our taxes. It takes the guesswork out of these specialized jobs and gives us peace of mind that someone knowledgeable is taking care of us. But, whether you are a big or small business, you’re also looking for ways to save.
Tariff Classification – Do your homework and get it right the first time.
“Quality is never an accident. It is always the result of an intelligent effort.” - John Ruskin, Art Critic and Writer Proper tariff classification is the foundation of import and export trade compliance. The Harmonized Commodity Description and Coding System (also known as the Harmonized System, or HS) is the.
Honest Import Transaction Mistakes
“I think I've found an error in my Canadian import transactions, and it's my fault. What can I do?” Human error is a fact of life, and honest mistakes can happen with import documentation. No matter the nature of your business or the size of your company – no one is immune to the possibility of a slip-up.
Duty Drawbacks: Don’t miss out on a chance to save money!
Do you frequently import goods, pay the duties and then re-export those goods, either as-is or incorporated into a finished product? Even if you’ve done this hundreds of times, you may not know that duties can usually be recovered on those items. Filing a duty drawback can have significant benefits – reducing your.
