Importing is never easy. There are regulations and norms to be followed, and besides being compliant, you must also pay the duties, taxes and tariffs as necessary. For most importers, the process is complicated, and that’s exactly why they prefer hiring services like Clearit Customs brokers. In this post, we are discussing further on why you may need a Customs broker for importing in Canada.
- Because they know GST. If you are unsure of Goods and Services Tax (GST) to be paid for imports, your broker can help. They are also well aware of tariff classification and can help your importing needs as required.
- Because they help in minimizing tax implications. Avoiding mistakes while calculating tariffs and taxes is necessary, and a Customs broker can help in keeping such errors at bay. You can always rely on them for expertise and assistance on taxes.
- Because they can also assist non-residents. Yes, Customs brokers do work with non-residents, and if you are one engaging in imports, they can advise you on whether and if you should consider the choice of permanent establishment.
- Because you may need help with trade agreements. One of the foremost reasons to engage a broker is to understand the Standard Trade Terms and how and to what extent such terms can impact the tariffs.
- Because they know details of value for duty (VFD). In Canada, value for duty (VFD) is usually determined by what’s called the “transaction value method”. You don’t want to go for the complicated implications and reassessment, so relying on a broker is a good idea.
- Because regulatory compliance is a must. As you may know, imports must be compliant to the required rules and regulations, or there can be serious penalties and fines under AMPS. Custom brokers, with all their expertise, can help with that.
- Because you want to save time. Finally, let’s get down to the basics. You don’t have the time required for understanding and decoding importing rules, which is precisely why Custom brokers are engaged and hired for. If you want to focus on your business and keep importing as required, you must rely on these services for getting the work done.
Finally, let’s talk of the process, which can be different for each kind of import. Instead of getting confused with the steps involved, hire a Custom broker, who can work as your consultant and offer all the assistance that you require.