When it comes to Customs it is essential that your business’s declarations are in compliance with Australian Border Force rules and regulations. At times this can be a particularly complicated job. A reliable customs consultant may be necessary to not only ensure your business stays compliant, but also that it takes advantage of free trade agreements and concessions which will allow you to save money and increase profitability.
Here are a few of the occasions when your business will need a customs consultant most:
When you need Advice on Tariff Classification
Clearing up the legally correct classification of your imported goods can be a complicated process and does not only make a huge impact on duty costs, but it is also required of you by Customs legislation.
You are held responsible for incorrect declarations, so it is helpful to get advice concerning disputes about the correct tariff classification of a particular good, or for other tariff classification matters such as undertaking penalty implications of certain procedures or choosing specific classifications.
For customs valuation
When it comes to customs valuation legislation it can be a bit of a minefield to navigate the layers in order to correctly determine the value of your imports and legally minimise your duty exposure.
If you get the valuation wrong you either end up paying too much, too little, pay import duty, or even be subjected to sanctions. This is where a customs consultant can help, especially if a dispute has arisen or if you simply need extra certainty and predictability.
When applying for a Tariff Concession
The Tarriff Concession System means you may be allowed duty-free entry for particular goods if there is no other local industries that produce the specific goods you do. Goods such as foodstuffs, clothing and passenger motor vehicles are ineligible but tariff concessions can be made for the importation of raw materials including:
- Dyes
- Waxes
- Glues
- Plastics
- Additional eligible raw materials used in the production of a particular end product
Although there are already minimal duties on the majority of goods imported into Australia, a tariff concession still has the potential to save your business a significant amount of money by eliminating import duty exposures.
To secure a Tariff Concession you need to:
- Complete the B443 form
- Provide all relevant attachments and information required on the form
If your application fails to meet every requirement, you may be rejected or delayed, this is when a customs consultant can assist you greatly. They will identify areas of opportunity and ensure all sections of your business’s application for a Tariff Concession is at their fullest potential for successful.
For a compliance audit
A compliance audit means your all your business’s compliance related mattered can be reviewed and results and recommendations can be produced that surround the results your business needs to achieve.
The Government demands industry to follow Customs law in every transaction involving goods going in and out of Australia. There is a total of 26 different legislation which Customs can audit your exports and import for compliance.
A customs consultant will audit your business with similar processes, conditions and methodology as you would be audited by Customs, this will leave you to respond appropriately.
Free Trade Agreement Advice
Australia currently has a variety of free trade agreements (FTAs) with different countries which allow treaties to reduce or remove barriers to trade and investment.
If you think your business may be able to take advantage of Australia’s FTAs a customs consultant can offer you expert advice which will not only save your business but perhaps open up new opportunities for your imports and exports.
When it comes to customs there are significant financial risks if you get things wrong, if you need assistance get in contact with S.A.L. Global Logistic. Our customs consultancy offers professional, honest and reliable services focusing on compliance while ensuring your exposure to duties and taxes is as low as legally possible.
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