Strategic Planning
Sourcing
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The country of sourcing of products may, amongst others, have an impact on the duty rates applied upon importation. This may involve preferential rates but also imposing “anti-dumping duties”. Preferential origin” obtained upon the importation of goods is used to lower import duties by applying for the applicable preferential trade agreement. The preferential certificate of origin, which is issued in the exporting country, will be the basis for claiming a lower import duty rate. Issuing of incorrect preferential origin certificates on importation may result in underpayment of import duties in country of importation, inaccurate compliance filings, assessment of penalties and interest, business issues (with clients purchasing these goods and filing incorrect customs declarations), legal and officer liability, etcetera. For further information, see also Origin under helpful links. |
CustomsAdvisoryPlus' sourcing services will ensure that:
A process exists to identify and file claims for imported finished goods, parts, and other goods potentially qualifying for preferential duty, tax, and quota treatment when imported from a preferential trading partner country.
Our control/implemetation program will, amongst other things:
- Ensure potential preferences for imports are identified and, the necessary preference documents are obtained.
- Ensure that a system has been put in place to establish reasonable care with respect to the validity of certificates used on importation.
- Ensure that adequate interdepartmental communication and communication with brokers has been set up concerning the use of preferential treatment.
- Ensure the process identifies risks related to this function and control mechanisms have been implemented.
- Ensure that correctness (signature, stamps, authorization-no. , classification, value, validity date) of preferential documents has been checked.
- Ensure that documentary support for prescribed period is retained
- Ensure that the correct applicable preferential rates are applied
- Ensure that preferential claims are reviewed by an expert (internal or external) and goods claimed under the arrangement are eligible as set forth in preference approvals.
- Ensure that a procedure is in place to monitor the receipt or missing retroactive proofs of preference from suppliers.
Customs valuation: see here
Classification: see here
Suspensions/Exemptions: see here
More information: contact info@customs.a.plus.com