Importing and exporting goods across borders requires filling out a form that is referred to as a Customs Declaration, which ensures your goods are fully compliant with the trading rules and you have paid the accurate amount of taxes and duties. This blog will take you through the importance of customs declarations in international trade.
What is a customs declaration?
A customs declaration is a legal document used to declare the content and value of the importing and exporting goods. Customs officials in both the origin and destination countries use it, and its main goal is to ensure that traders pay accurate duties and taxes and are compliant. It is a hassle for most traders; however, with the use of modern technology such as Customs Declaration Software, it becomes an easy task.Â
When do I need a customs declaration?
All imports and exports from the UK into the EU, as well as all international trades, require customs declarations. You can make a declaration yourself or appoint someone to deal with it on your behalf. Â
You might be eligible to file a simplified declaration; see if that is the case for you here, or see if Authorised Economic Operator status could help you.
Importance of customs declaration in international trade
The importance of customs declaration cannot be denied, as it performs many crucial tasks:
- Ensure compliance: The government can easily enforce trading laws with the help of customs declaration. Accurately registering your goods helps you stay out of trouble and saves you from penalties and fines.Â
- Preserve national security: Customs declarations are essential tools for identifying banned or restricted goods that protect national security and consumer safety.
- Gather revenue: Customs declaration ensures accurate calculation of customs fees and taxes, which provides the government with a sizable stream of funding. Â
What details will I require for customs declaration?
You will be required to submit certain information in order to make the declaration for your goods and guarantee that your paperwork is completed accurately. These details include:
- Your EORI number
- Bills
- Appropriate certifications or licenses
- Commodities codesÂ
- Point of entry or departure
Advantages of streamlined customs declaration
Trading businesses can get the following benefits of streamlined customs declarations:Â Â Â Â Â Â Â Â Â Â
- Faster clearance: Accurate and timely disclosures speed up the clearance procedure, allowing your products to reach the market sooner. This results in lower storage expenses and quicker client satisfaction.
- Decreased risks: Error-free customs declarations reduce the possibility of delays, ensuring seamless supply chain operations.    Â
- Enhanced efficiency: Compared to paper-based methods, electronic customs declarations streamline the procedure and save you time and money.
Using Customs Declarations to Your Advantage
The first step is to recognise the significance of customs declarations. To guarantee a seamless customs clearance procedure, follow these suggestions:
- Determine your HS code: Every product has an HS code, which is a universally recognised classification system. With the correct HS code, processing times can be shortened, and duty calculations can be made more precisely.
- Get help from a customs broker: Complying with customs regulations might be difficult. To guarantee compliance and receive guidance throughout the procedure, think about collaborating with a certified customs broker.
- Get the benefit of technology: Electronic technologies for customs declaration are available in several nations, such as Customs Declaration Software (CDS). Making use of these technologies expedites customs officials’ communication and simplifies paperwork.Â
