Glossary of Import Terms:
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Direct Representation
A form of customs representation where a customs agent acts on behalf of the importer, but in the importer’s name. The importer is fully responsible for all customs obligations.
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Indirect Representation
A form of customs representation where the customs agent acts on behalf of the importer and in their own name, sharing liability and responsibility with the importer for customs compliance. Desucla can act as an indirect representative.
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Customs Broker
A licensed professional who assists importers in complying with customs regulations, including the preparation and submission of required documents, payment of duties, and communication with customs authorities.
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Customs Declaration
A formal statement made by an importer or exporter providing details about goods being imported or exported, including their value, origin, and classification, required for customs clearance.
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Import Duty
A tax imposed by a country on goods imported into its territory. The amount is typically based on the value, type, and origin of the goods.
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Tariff
A schedule of duties imposed by a government on imported or exported goods. Tariffs can vary based on the product category, country of origin, and trade agreements.
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Value-Added Tax (VAT)
A consumption tax levied on the value added to goods and services at each stage of production or distribution. In the EU, VAT is applied to most goods and services, including imports.
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Harmonized System (HS) Code
A standardized numerical method of classifying traded products, used by customs authorities worldwide to identify goods and apply tariffs.
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Rules of Origin
Criteria used to determine the national origin of a product, which affects the application of tariffs, duties, and trade agreements.
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Customs Union
An agreement between two or more countries to remove customs barriers between them and adopt a common external tariff for imports from non-member countries. The EU is an example of a customs union.
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Free Trade Agreement (FTA)
An agreement between two or more countries to reduce or eliminate tariffs, quotas, and other trade barriers on goods and services traded between them.
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Incoterms
International Commercial Terms, a set of standardized trade terms published by the International Chamber of Commerce (ICC) that define the responsibilities of buyers and sellers in international transactions.
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Customs Valuation
The process of determining the value of imported goods for the purpose of applying customs duties and taxes. The valuation is typically based on the transaction value, or the price paid or payable for the goods.
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Customs Duty
A tax levied by a government on goods that are imported into its country. The duty is typically based on the value, weight, or quantity of the goods.
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Quota
A limit on the quantity of a specific product that can be imported into a country during a given time period, often used to protect domestic industries.
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Import License
A permit required by some countries for the importation of certain goods. The license is issued by the relevant government authority and is usually required for items such as firearms, pharmaceuticals, and agricultural products.
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Trade Compliance
The process of ensuring that all import and export activities comply with relevant laws, regulations, and trade agreements, including adherence to customs regulations and trade sanctions.
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Certificate of Origin
A document used in international trade that certifies the country in which a product was manufactured. This document is often required by customs authorities to apply the appropriate tariffs and to determine if the goods qualify for preferential treatment under trade agreements.
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Preferential Tariff
A lower tariff rate granted to imports from certain countries under a free trade agreement or other trade arrangements, compared to the general tariff rate.
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Import Quota
A limit on the quantity or value of a specific product that can be imported into a country, often set to protect domestic industries or control the supply of certain goods.
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Single Administrative Document (SAD)
A standard form used within the EU for customs declarations, covering the movement of goods across EU borders, import, export, and transit operations.
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Authorized Economic Operator (AEO)
A status granted by customs authorities to businesses that meet certain standards of compliance, security, and financial solvency, offering benefits such as simplified customs procedures.
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Importer of Record (IOR)
The person or entity responsible for ensuring that imported goods comply with all legal requirements, including the payment of duties and taxes and the filing of necessary documentation.
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Temporary Importation
A customs procedure allowing goods to be imported into a country for a specific period without the payment of import duties, usually under the condition that the goods will be re-exported.
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Export Control
Regulations that govern the export of goods, technologies, and services that are considered sensitive for national security, economic, or political reasons.
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Common External Tariff (CET)
A unified tariff rate applied by all members of a customs union on imports from non-member countries, ensuring that all members apply the same duties to goods entering the union.
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Intrastat
A system for collecting statistics on the trade in goods between EU member states, requiring businesses to report the movement of goods across intra-EU borders.
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Trade Sanctions
Government-imposed restrictions on trade with specific countries, entities, or individuals, often used as a tool for foreign policy or national security.
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Binding Tariff Information (BTI)
A decision issued by EU customs authorities that provides a binding classification for goods, giving importers certainty about the tariff classification of their products.
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Customs Warehouse
A storage facility authorized by customs authorities where imported goods can be stored without payment of duties and taxes until they are released for free circulation or re-exported.
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Customs Clearance
The process of completing all required customs formalities, including the submission of documents, payment of duties, and compliance with regulations, to release goods for entry into a country.
IMPORTERS GUIDE
EU & UK Customs Representation
INDIRECT REPRESENTATION:
Desucla provides indirect representation services to enable importing into the UK & EU, if you engage with a shipping company who will not provide direct representation then we can assist. We can additionally support by performing the customs clearance formalities, ensuring compliance and often keeping costs to their lowest.
LIMITED FISCAL REPRESENTATION:
As an alternative to an indirect representation our limited fiscal representation service can be used to import goods into the EU, there are various considerations as to which route to take. Our team can guide on the options available for your needs and discuss the pro’s and con’s accordingly – read more about our TradeFlow solutions.
CUSTOMS CLEARANCE:
In combination with our services we offer a customs clearance service, whether air, sea, train or road we offer timely clearance services. This services ensures goods are compliantly imported and necessary customs paperwork is submitted on time. Our payment services where duty or VAT are required allow you to settle in your local currency, avoiding foreign exchange shock.
VAT DEFERMENT:
Depending on the import route there is a possibility that VAT will need to be prepaid prior to import, this can add a hefty up front cashflow concern to importers.
HOW CAN I GET STARTED?
Simply follow the online registration process and select that you are a merchant/company. Alternatively, you can contact us using the form below.