How does CDS Perform Duty & VAT Calculation? Duty & VAT (Value-Added Tax) are taxes that may be levied on goods and services, respectively, in some countries. Duty is a tax on imported goods, while VAT is a tax on the sale of goods and services. To calculate the duty on imported goods, you will… Continue reading How does CDS Perform Duty & VAT Calculation?
CHIEF To CDS: Advancements in Customs Declaration Services International commerce drives economic growth and prosperity in today’s global economy. Moving goods across borders include complex regulatory regulations and customs procedures, which can delay, be inefficient, and expense firms. CHIEF (Customs Handling of Import and Export Freight) was not a reliable approach to customs trade earlier.… Continue reading CHIEF To CDS: Advancements in Customs Declaration Services
The Role of Process Automation in Customs Operations Time has progressed, and customs trade has flourished with a 360 degree turnover. Global enterprises need timely goods clearance, correct documentation, and customs compliance. Automation transforms customs procedures. Process automation describes the customs declaration flow, which is easy to follow and suitable for every trader. Technology and… Continue reading The Role of Process Automation in Customs Operations
6 Ways Customs Optimisation Boosts Retail Supply Chain Efficiency The retail industry faces several challenges, including rising commodity costs, increasing complexity of import/export regulations, and the need to speed up and slow down supply chains depending on demand. In this environment, customs optimisation is essential for improving resilience and competitiveness. In the fast-paced world… Continue reading 6 Ways Customs Optimisation Boosts Retail Supply Chain Efficiency
Understanding Harmonized System (HS) Codes The Harmonised System (HS) is an internationally recognised classification system for categorising and identifying traded products. The World Customs Organization (WCO) developed and maintains it. The HS assigns unique codes to products based on their composition, characteristics, and intended use. These codes, known as tariff codes or HS codes, are… Continue reading Understanding Harmonized System (HS) Codes
Leading UK Freight Forwarding Software in 2023 Sometimes, we think about what 2023 has brought us regarding technology, innovation, ease, smartness, and, most importantly, time management. Eventually, we come up with the answer of affirmation because we enjoy all these services to their full extent. Efficiency and precision are of the utmost importance in… Continue reading Leading UK Freight Forwarding Software in 2023
Why Importers Need Tariff Classification for Customs Declaration In this connected trading world, importers play a crucial role in integrating both goods and people around the globe. When traders face challenges importing and exporting goods from different places and finding the right tariff classification, stimulating this circle is difficult. The act of establishing a… Continue reading Why Importers Need Tariff Classification for Customs Declaration
What is the Customs Procedure Code (CPC)? A Complete Guide Every state in the UK is paramount to acquiring new ways to speed up cross-border trade and facilitate traders. For this reason, HMRC defined a set of codes named as Customs Procedure Code (CPC) to facilitate traders. For instance, this blog presents a detailed… Continue reading What is the Customs Procedure Code (CPC)? A Complete Guide
iCustoms launched the smart AI Import Control System 2 (ICS2) Compliance Platform All business entities based outside of the EU that transport products into or through the EU by air must adhere to Import Control System 2 as of March 1, 2023. (ICS2). This will be extended to encompass trade by rail, road, and marine… Continue reading iCustoms launched the smart AI Import Control System 2 (ICS2) Compliance Platform
Customs Freight Simplified Procedures (CFSP) is a system used by the European Union (EU) to streamline the customs clearance process for goods entering or leaving the EU. It allows authorised economic operators (AEOs) to clear their own goods through customs using simplified procedures, rather than having to go through a traditional customs clearance process. This… Continue reading Customs Freight Simplified Procedures (CFSP)
