What is Trade Consultancy?
Trade Consultancy is a valuable service for companies requiring support in the international trade environment. With Australia being predominately an import country, there are many import duty rates Australian importers need to pay. Most companies pay too much import and customs duty, which are profits that could significantly benefit your company’s bottom line.
Why are companies paying too much custom duty in Australia?
There are many factors to why importers may be paying too much for their import duty rates in Australia. The international trade environment is complex with many regulatory compliance factors to be considered and often companies don’t have the experience or resources to go through all the tariff classifications in detail for their imported goods, resulting in higher Australian customs duty being paid than necessary.
How can you benefit from Trade Consultancy?
Kuehne+Nagel’s trade consultancy service has benefited companies of all sizes who are looking to optimise their financial operations by reducing import costs. The below are some of the services offered which can help companies save on Australian customs duty:
-
Free customs audits for selected companies
-
Reviews and appeals to customs decisions
-
Navigating free trade agreements
-
Tariff concession application service
-
Customs duty refund services
-
Understanding and knowing which tariff concessions are available to your business
-
Customs duty drawback service
-
Tradex Scheme
-
Customs compliance auditing – giving traders peace of mind that your compliant with Customs regulations and have a high level of accuracy with your tariff classifications
-
Training your supply chain and shipping staff on subjects related to Customs processes, documentation, duty, concessions, quarantine and free trade agreements.
In Australia, we have a dedicated team of trade consultants, who are able to analyse cargo, apply the correct tariff classifications, evaluate country of origin, seek out free trade agreements, and help determine a variety of trade factors that can be legally used to your company’s advantage by benefiting the financial position of your company.
Do any of the below questions resonate with you?
-
Are your products of high value?
-
Are your customs duty charges high?
-
Is your cargo only manufactured outside of Australia?
-
Have you had major quarantine issues, delays or costs?
-
Have your tariffs and duty rates not been audited accurately in the last 2 years?
If you answered ‘yes’ to any of these questions, you could have an opportunity to work with our Trade Consultancy team to see what you may be entitled to receive back.
What does the processes involve?
When you get in contact with the Kuehne+Nagel team to discuss your trade consultancy needs, one of our team members will go through the below three stages with you:
A trade consultant will review your product range. This will help to determine how your customs duty is currently being organised. If there is a strong case, the team will proceed to step 2.
The second part is a 48 month analysis of your import documentation and custom entries. This will help the trade consultant understand how tariff classifications are currently being assigned, and if there is potential for any custom duty refunds.
Thirdly, a findings report and recommended actions will be provided for your review. This is a great opportunity for businesses to ensure they are paying the correct customs duty for the goods imported into Australia. If the audit shows that there is potential for claims to be made, our trade consultants can do this for you. They will provide you with expert advice on how you can avoid paying unnecessary customs duty in the future.
What does it cost?
The trade consultancy service fee is based on a percentage of the recovered duties only. In other words, if no duties are recovered, no fee is payable. Importers have nothing to lose by engaging with a Kuehne+Nagel Trade Consultant for a Customs Entry Review.
Contact us today to learn more.