Customs Secrets: How to Reduce your Importing Duty to
When you import goods from overseas suppliers, you can
really get yourself some rock-bottom prices on items to resell. However, those amazing prices can be made
pretty much redundant when you get slapped with import duties.
Here are some tips to help reduce the amount of duty tax you do pay. These are custom duty best practices and tips that are smart, useful, and definitely
* Find out what the currency limits are for what you can import without high taxes being
imposed. Many international wholesalers and manufacturers will work with you and give you all the information and
ideas you need..
Buyers often end up having their shipments sent out a few days apart to avoid higher taxes that come along with
a large shipment.
* Negotiate price more effectively with the
wholesaler or manufacturer. Tell them that the duty taxes and customs process will make this deal not
work for you.
If they cannot reduce their per unit cost to compensate it will be difficult for you to place the
order with them. It may seem odd expressing this to them in conversations but they have heard it before and it's
likely that they have helped buyers before.
Remember that both of you have one goal - getting the product from the seller to the buyer.
* If you do a lot of traveling you can purchase items to bring back that are under the tax free
threshold allowed by customs.
If you have friends, family, and other associates that travel, take advantage of what each individual is allowed
by customs laws or regulations. This is perfectly fine to do, and as an extra bonus you will get the merchandise
* Network with other sellers to find someone you
can order with. If you have somebody to help split the duty costs with it will decrease both of your
overheads and provide for a better opportunity to purchase more at a better rate.
* See if manufacturers and wholesalers from other countries have distribution centers in your
country. If they do you may be able to place an order and have it shipped from your country.
In the United States, many wholesalers and manufacturers have distribution centers to help you out with
* Customs regulations and allowable merchandise can sometimes vary by how you choose to go
about receiving it. Make sure you research any benefits or exceptions that happen with countries that you choose to
do business with.
For example, some trading agreements with countries can work in your favor. On the flipside,
nations with trading sanctions should be avoided as the costs of buying from them will increase.
* To really save on import duty, only do business with countries that have little or no duty
tax. It may limit your options but you will be able to avoid paying the tax.
There are many ways to reduce the amount of duty tax you pay when you purchase items from overseas
Make sure you know your options when you are set to purchase internationally. It can mean the difference between
your products making you're a profit, or making you a loss!
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