Companies importing and selling products in Canada must generally pay import duties, GST, and GST/HST. In this guide, Munish Gupta from the Supply Chain Advisory Group explains what kind of taxes must be paid when importing goods to Canada – both for Canadian companies and foreign importers.
Continue reading Import Taxes and GST in Canada: By Munish Gupta
Importing and selling products in the EU, using a non-EU company, is possible. However, doing so requires that you get get a VAT and EORI number, and pay import taxes. You’ll also need to decide in which EU member country to register your non-EU company.
The hardest part is often knowing where and how to get started, but this guide by Munish Gupta, founder of Supply Chain Advisory Group, covers everything you need to know at an early EU market entry stage. Continue reading How to Import Products to the EU Using a Foreign Company
An EORI number (abbreviation for Economic Operator Registration and Identification) is assigned to businesses importing products to the EU. In this guide, we explain what an EORI is used for, how to apply for an EORI number, EORI applications for non-EU companies, processing time, and more.
Continue reading EORI Numbers for EU Importers: Questions & Answers
Importers issue Purchase Orders (PO) as a formal procedure to state their intention to buy certain products, according to the terms specified in the PO. The supplier should then counter by issuing a Proforma Invoice (PI), stating their intention to sell the products to you according to the terms stated in the PI.
While this may sound like an outdated formality, understanding the Purchase Order and Proforma Invoice issuing process can help avoid severe misunderstandings – leading to quality issues, receiving the wrong product, or delays.
Overview
Sample Documents
In addition, we also provide sample invoice documents:
Continue reading What is a Purchase Order and Proforma Invoice?
Suggestion: Watch the 10 minutes video tutorial before reading this article
Understanding import duties, port charges, VAT, and other taxes is crucial when importing products from China, especially in a time when trade tensions are at an all-time high. However, each country or market has its own import duty rates and customs value calculation methods.
In this article, we explain what every Importer must know about import duties, customs valuation methods, and other taxes when importing products to the following countries and regions.
Continue reading Customs & Taxes When Importing from China: US, EU, UK, Australia & Canada
Suggestion: Watch the 10 minutes video tutorial before reading this article
Planning to import products from China to Australia? In this guide, we cover the basics that all Australian importers must know about product safety standards, labeling requirements, shipping options, and, the China–Australia Free Trade Agreement (ChAFTA).
In addition, you’ll also learn how to calculate import duties, import processing charges, and Goods and Services Tax (GST) when importing from China.
Overview
Continue reading Importing from China to Australia: A Complete Guide
Like many others, I assumed the US-China trade war would be a short affair. I envisioned some deal involving mutual trade concessions taking place in a matter of weeks.
How wrong I was.
Now we are facing the prospect of a decade-long trade war, that will possibly mark the end of an era. Given that the United States is our main market, in terms of users, the trade war has a severe impact on our business too.
I’m not here to discuss which side is morally right or wrong. But I do have an obligation to share my views of how the US-China trade war may impact small businesses in the US, importing from China.
The trade war also comes with some unintended consequences, that have the potential to backfire massively. Continue reading US-China Trade War Tariffs: An Essential Guide for Importers & Amazon Sellers
Suggestion: Watch the 10 minutes video tutorial before reading this article
Imported from Asia to the EU, or selling cross-border? In this guide, we explain what importers, Amazon sellers, and cross-border e-commerce companies must know about the Value Added Tax (VAT) in the European Union.
We also collaborated with Alex Wyatt from SimplyVAT and Dr. Matthias Oldiges from KMLZ, two of Europes leading experts, to create this comprehensive VAT guide.
This is covered
The VAT is a consumption tax in the European Union. In B2C transactions, VAT is always included in the price. If you, for example, buy a product online from an EU based online store, the price you pay includes VAT.
The seller can then subtract the VAT paid on imports, from VAT added on top of the sales price.
Below follows an example:
This allows us to make the following calculation.
Thus, I would need to pay a VAT of $1,000. If I’d spent more on VAT than I added on top of my sales, I would instead get money back from the state.
Continue reading VAT on Imported Goods from China: A Complete Guide
Understanding the Australian import duty and tariff system, with many its exemptions and country of origin classes, can be rather complicated. In this article, we explain what Australian importers must know about import duty rates, HS codes, and tariffs:
Continue reading Import Duties in Australia When Buying From Asia: An Essential Guide
About to import products from China, Vietnam or elsewhere, to Australia? If the total importation value is above AU$1,000, you’ll need to submit an import declaration and pay an import processing charge of at least 50 Australian Dollars.
In this guide, we explain what Australian importers must know about the Import Processing Charge:
The importing processing charge depends on the customs value (CVAL) and whether you submit the import declaration manually or online. However, unlike import duties which may differ depending on the country of origin, the import processing charge is always the same.
As such, you’ll pay as much for a shipment coming in from China, as one from Vietnam or any other foreign country. Continue reading Australia Import Processing Charge When Importing From Asia: A Complete Guide
