Importers in Canada need to deal with several compliances to federal and provincial laws. It is a grueling process to accurately determine the optimal import strategy.
Some elite customs brokerage firms like Clearit customs consulting offer customs consultancy services to Canadian importers to plan their import compliances efficiently. Proper planning can reduce the money and time involved in customs clearances.
This article takes you through the various consultancy services available and how best can they help the Canadian importers.
Let us begin!
What is customs consulting all about?
An experienced customs consultancy firm can undertake an accurate assessment of an importer’s current importing needs and suggest optimal import strategies.
The consultancy firm weighs in the various federal and provincial laws, tariff lines, other government directives, and compliances with the exporter’s jurisdiction like ITN of the United States to chart out the best possible import options.
The qualified customs consultants who are well versed with the clearance regulations can guide you to overcome legal and technical hassles in importing various goods across Canadian borders and ports.
How can a consultant help you?
Due to their knowledge and experience, a customs consultant can guide an importer in the following areas.
- Tariff treatments: Different tariff lines change dynamically with Canada’s commercial policies. A consultant is up to date with the frequent changes.
- Valuation for the duty: Undertaking appropriate valuation of consignments can reduce the excess customs burden on the importer.
- Special assessments: Some goods require additional compliances under Canadian customs clearance laws. A consultant ensures filing such documents on time.
- Penalties and refunds: A consultant ensures fair refund in cases of untoward hitches in the import. The cases of penalties for importers can be reduced due to better compliance with clearance laws under expert supervision.
- Trade agreements: A customs consultant can advise on the best utilization of the existing trade agreements of Canada with other countries. This can reduce the tariff burden significantly for importers.
- Document preparation: A consultant can undertake meticulous document preparation to avoid any compliance issues in the imports. This saves a lot of time and money for the importers.
- Tax requirements and exemptions: A seasoned customs consultant can plan your tax compliances efficiently to widen your profit margins while complying with the law.
Concluding thoughts
The Canadian importers can greatly benefit from the advice of customs consultants. They can create new opportunities by reducing risk and duty payable.
