As a commercial importer in Canada, you have many things to worry about. International trade, no matter how lucrative, is subject to numerous country-specific rules & regulations. Before you can get your imports, you need to clear applicable duties and taxes, but how do you classify your goods? Here’s where a customs broker can help. For instance, you could ask for Clearit ITN number for Canada to import a vehicle from the US. All customs brokers are licensed by the Canada Border Services Agency. If you are in two minds about hiring a customs broker, we have a few good pointers for your help.
Working with a customs broker
When working with a customs broker, you need to share the commercial invoice for the imported goods. They would then start the actual work, which involves determining whether the goods can be imported into Canada, how to classify the goods and the taxes & duties that must be paid to the Customs. Despite free trade agreements, it can be hard to determine how you can import profitably keeping the tax implications into consideration. Importers often assume that they can manage on their own, only to end up in situations where they end up paying a lot more because they failed to plan their importing business or consult a customs broker.
Keeping up with the change
Ensuring that the duties and taxes are paid as per norms is not the duty of the customs broker but the importer. Canadian customs regulations change all the time, and without working with an expert, it can be hard to keep up with the evolving times. Because customs brokers are licensed by the CBSA and are constantly working in the industry, they are well aware of the various aspects that matter for importing. As a business owner or importer, you can continue to focus on your business as your customs broker takes care of everything else.
The role of a customs broker is not just about ensuring the movement of your imported goods. They are also vital for your operations. Before you start importing from a new country or territory, you should consider consulting an experienced team to know the impact of your decisions. Many customs brokers work with clients as their regular consultants for key international trade matters. They can also guide you on how to effectively avoid mistakes and trade better.
Consult a customs broker today!