How to get into Import/Export business?

#1

Post by jerseypreneur » Fri, Apr 17, 2015, 3:54 AM UTC

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Re: How to get into Import/Export business?

#2

Post by MichaelCrawford » Fri, Apr 17, 2015, 4:00 AM UTC

You'll need to automate your customs declaration forms.

It helps a great deal if you can include any customs duties in the prices you charge. For example Canada has a %15 tax. If you sell a book to a Canadian, you can save everyone a lot of hassle if you can just include that duty in the original purchase, then make arrangements with Canada Revenue Agency to pay it directly to them.

Re: How to get into Import/Export business?

#3

Post by jerseypreneur » Fri, Apr 17, 2015, 2:33 PM UTC

MichaelCrawford wrote: post #2

You'll need to automate your customs declaration forms. It helps a great deal if you can include any customs duties in the prices you charge. For example Canada has a %15 tax. If you sell a book to a Canadian, you can save everyone a lot of hassle if you can just include that duty in the original purchase, then make arrangements with Canada Revenue Agency to pay it directly to them.

Okay great! I was reading up on customs declaration forms and have seen that there is a fair amount of red tape I'd have to get through before domestically operating an I/X company.