If your business exports products around the globe or imports raw materials for manufacturing, it is likely that you frequently have to deal with customs in Australia or abroad. Trade laws can be very complicated which can mean that you have to spend a lot of time managing your imports and exports. One way of solving this problem is by hiring a customs broker. Below is a guide to 3 ways in which a customs broker can help your business.
A customs broker will prevent items being held and delayed
The world of modern business depends on things happening like clockwork. If a shipment of goods is delayed at customs, it can affect not only your business but every other business which forms part of the global supply chain. The primary reason for delays in customs checks is incomplete or incorrect paperwork and labelling on packaging. By hiring a customs broker who is trained in trade and customs law, you can ensure that every package you ship out is accompanied by the correct paperwork and has the right stickers and labels attached. If an item you are importing has been held by an Australian customs team, your broker can use their contacts to quickly establish what the issue is so that it can be resolved.
A customs broker can reduce your tax bill
International trading agreements mean that the amount of tax charged on different types of products can vary widely. If you attempt to calculate how much tax you owe, it is highly likely that you are sometimes overpaying. A customs broker can help you to precisely calculate the amount of tax you owe on each shipment you send or receive. On the flip side, there is also the risk that you will underpay on your import or export duty. This could result in a nasty tax bill or even a fine from the authorities. A customs broker's calculations will also help you to avoid this situation.
A customs broker will free up valuable time
Finally, hiring a customs broker may mean that you incur a cost for their services but it also means that you and your staff will be free from having to deal with this aspect of your business. Handing over responsibility to a customs broker means you can concentrate on growing and developing your business.
If you would like to find out more, you should contact a customs broker today.