Global Trade Advisory Analytics
Global Trade Radar: How to leverage what tax authorities and forward-looking companies are doing in customs and global trade.
Whether the customs function is undertaken in-house or outsourced, obtaining complete insight into, for example, country of origin, compliance and duty-related concessions, is difficult. Companies often lack control over the end to end process and the compliance challenge is compounded by the need to understand the complexity of the customs environment which combines tariff classification, valuation, origin, Free Trade Agreements and other concessionary schemes.
More than ever, large companies are looking to indirect taxes. Indirect taxes and especially customs duties are typically above-the-line taxes, payable whether or not a company is making a profit. Therefore, a customs duty saving can significantly affect margins.