Import
October 4, 2008
Import Special
Tips on Import-Export Dealings For Agents!
By Kirthy S
If you are aspiring to be an import export agent, drive home one fact, that it’s a lucrative profession. Across the world, there have been great success stories about import export business. At the same time, some have faced defeat as well. However, the failure stories get concealed quite often.
Many people actively participate in trading or work as agents to major exporters and importers. It is all based on the products that are dealing with, your financial ability and the country you are trading with etc.
How different are the marketing strategies from export business?
It is often said that, the strategies of marketing involved in local marketing is not very different from the export market. Every country perceives products differently and hence makes use of different marketing strategies. It is usually the distributors who take care of the type of marketing strategy that is employed.
If you are trading with other countries, learn about its license requirements if any. Some countries have no license requirements for particular products. Certain high risk products like chemicals, liquor, medicines, arms, articles etc may demand a license. However, products like consumer goods are of low risk and can be traded well without any risk. Trade products with no barriers and is simple.
Ensure for the smooth running of the distribution and production channels. Look at your stock positioning, brand positioning too. Stock positioning is nothing but moving the stocks from a country which has it in excess to a country where there is a scarcity. Where there is a demand for the product moving it there makes more sense. Save out on money too! Create a domain of your own, to promote the products.
You as an import export agent is not known by all. Before you take a plunge on your import export business set your marketing strategies rightly. Ensure that your products are of good quality. Follow up with good quality control measures. Promote your products well, as you are not well known in the market yet. Build up enough credibility for your product. Choose the right medium for advertising your products. Get a search engine friendly website, build up your web pages with sufficient search engine optimisation done to your site, off page optimisation is also important to gain traffic from other sites too, thus boosts up the ranking of your site and you gain visibility. For more tips on import export, search online.
Kirthy Shetty, Platinum author
Get all your tips related to Indian export agent from:
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How to work out import duty charges UK
September 3, 2008
How to work out import duty charges
You will find that import duty is worked by a number of factors, these being the type of goods, country of origin and their value.
If you need details about VAT rates I advise you HM revenue and Customs on 01702 366077 this will put you through direct to their tariff classification service department. If the goods have come from inside the European Union (EU), no duty will be payable by yourself, Unless the items are tobacco or alchohol as these will be charged even within the (EU).
If the items you are importing originate outside of the European Union and duty has been paid on them in another EU country before being delivered to you, once again you will have to pay no duty charges.
If you find that the goods you are importing have not paid any duty in any other EU country and the goods have come from outside the EU you will need to pay duty. If you find yourself in this situation you will need to calculate the value of the goods there 6 ways to do this. If you find method 1 does not work the move onto the 2nd and if no joy the 3rd method and so on. The HMRC will show you how to calculate duty at this link HMRC WEBSITE DUTY HELP .
Please remember duty cannot be reclaimed unlike Value Added Tax . So even if you are a registered company that is VAT registered in the UK you still cannot reclaim the VAT element.
Keep an eye out for my helpful articles about importing to the UK and the best of luck with your website please visit our winshport website often to establish good advice from our resident import expert Matt Cromie.
Importing and VAT UK
September 3, 2008
Importing and VAT and what is Involved?
If you use the rule that most imports have to have VAT added to them, just as if it was an item supplied within the UK.
Also keep in mind that VAT is handled in different ways and the big decider in this matter is whether the imported goods are imported from within the European Union or outside the EU. A point to remember and can be to your advantage if some goods are already in free circulation in any EU country this meaning that duty and VAT has already been paid (sometimes a lower rate than the UK) you should not have to pay anymore charges shipping them into the UK.
Remember goods are always treated as imports if they have come to UK direct from a non EU country or from an EU country with no VAT or duty already being paid (not being released for free circulation). You will then have to pay duty and VAT. Check out the HMRC website for info on this and what countries are included in the EU for VAT purposes at this link.
You will normally have to declare to the HMRC any goods you import and pay the applicable duty and VAT. The best way to start this process is to phone HMRC national advice number on 0845 010 9000. Please note duty and VAT must be paid to the HMRC before any imported goods will released by customs.
For those of you doing a bigger turnover and importing goods on a larger scale you may have to complete an Intrastat Supplementary Declaration this is if you imports to the UK from the EU exceed an annual amount of £260,000 per a year. Keep an eye out for our advice article about the introduction to Intrastat.
Import VAT The Basics
September 3, 2008
Import VAT The Basics
There are some key points and strict rules to remember if you choose for your business to trade internationally. At some point you will probably find your company paying UK customs duty and VAT.
By making sure you understand which VAT and duty parts apply to your business will help you plan ahead for charges and have no nasty surprises. If you do find yourself importing goods there will be a following article which will explain the advantages of deferring import customs duty and VAT and also tell you how to get all this VAT back to offset.
Always keep in your mind that VAT on exports and imports is very complex so doing your homework could save you a lot of time and money. The best advice I can give is if there is anything you are unsure of regarding your business vat and duty charges you can always contact the HMRC for free advice via their national advice service.
Keep an eye out for my other articles in this series of winshport import advice as I will be explain the pros and cons of importing in plain English making the minefield of importing approachable by providing you with map advice, help and where to find information. Doing your homework at the early stages of setting up your import business will save you much time and money as I learnt the hard way by running before I could walk. Keep your faith in Importing even if it seems hard at first as it is a Multi Billion pound business and there is a slice for you!
UK Import
September 2, 2008
UK Import
The UK import market is big business. Before you start it is always a good idea to conduct thorough research! a good place to start is the HM Revenue website here you will find many links and advice via its tradelink partners there is also very good starters pack/guide to the UK Import business.
On the HM Revenue website you will find very informative articles about the downfalls that can be gained from importing if a strategic import plan is not put together, some areas covered are: Classifying your goods, the European Union, procedures and electronic systems, a guide to import and export, reliefs and exemptions, reporting and documentary requirements and the Tariff.
written by Matt Cromie
How to Settle Factory Claims in China More Successfully - Part Three - Advice For Your Negotiations
August 16, 2008
How to Settle Factory Claims in China More Successfully - Part Three - Advice For Your Negotiations
How to Settle Factory Claims in China More Successfully - Part Three - Advice For Your Negotiations
By Klaus-Dieter Hanke
Presenting the Facts
After the small talk with the factory management, it is time to get down to hard business. Present all necessary evidence (e.g. documents, statements, invoices and samples) to your supplier. Present everything that you have to the decision maker to convince him of his responsibility and hopefully he will accept fault.
Samples of a defective product are especially effective at proving your case because they can be handed over and everybody can directly see the problem.
A nice prepared folder or binder containing all of the documents and photos can help you in your presentation (perhaps several copies for the other managers as well). It would be great if you have a Chinese translation prepared for the non-English speaking members of the management team.
Consequences the Claim will have for Your Company
Clearly point out to your supplier the consequences the claim has already had on your company (e.g. loss of turnover, loss of customer confidence, loss of reputation as a quality importer). Additionally you should explain future consequences this claim will have if it is not solved soon. Never assume the supplier knows these things. He may understand little about how business is conducted in your home country.
Listen to Your Supplier’s Arguments
Although you may be frustrated and even angry with your supplier, you are well advised to listen to his arguments before making demands. Remember he is in control of a large organization, often much larger than your own company, and deserves some respect. He will try rejecting your claim but you still must listen to him before proposing a settlement.
Line out Your Settlement Proposal
Lining out the details of your settlement proposal is very important. If something is unclear or misunderstood, this is the time to straighten it out. Usually suppliers will ask for a written copy of your proposed settlement to review before the meeting. There is nothing wrong with this but a personal presentation gives it more weight.
Listen to Your Supplier’s Reply
Your supplier has to reply to your proposal and now he may have new ideas for solving the problem. Be patient if you want to achieve anything. You came to solve the claim and must be willing to invest sufficient time.
Give Your Supplier Time to Reconsider
It is very unlikely that your claim will be settled on the first attempt. It may be necessary to give your supplier some extra time to reconsider all the information presented and the proposed settlement. He also may want to investigate details with his company or seek outside advice.
It would be perfect timing if it were time for lunch or dinner. Take a break from the serious discussions and have a meal with your supplier. They may try to ply you with some heavy drinking but that is part of the game. Join in if you want. It may lead to an easier resolution of the problem.
Another Meeting and Hopefully a Revised Proposal
During the next meeting, which could be within the next one or two days, listen carefully to any revised proposals your supplier comes back with.
Most likely they will propose some solution if your arguments and evidence were sufficient. If they still reject your claim or insist on a previous proposal, you may have to take a tougher approach by insisting a new proposal be put on the table.
Calculate the Losses
It is very unlikely that you will recover all of your cost. If your supplier offers a compromise, you have to do the math again to determine if the result is acceptable for you. If their proposal is insufficient, make another counter proposal or request a time for another meeting to bring back a counter proposal. However, this only makes sense if you have the feeling it will help to improve the outcome.
If you feel that the supplier will not be open to an improved offer, you might as well make a decision now whether you want to continue meeting or accept their current offer. Terminating the arrangement with your existing supplier should only be done as a last resort because it is very unlikely that they will voluntarily compensate your company for anything at that point.
As you can see, you need to invest in sufficient time for your meetings and must be patient if your want to achieve a favorable claim settlement.
Klaus-Dieter Hanke
Want to improve your importing skills?
Invaluable advice from an expert with 25 years experience of importing from China.
Visit my website now! http://www.webmediabiz.com
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Tips on Import-Export Wholesale
August 16, 2008
Tips on Import-Export Wholesale!
Tips on Import-Export Wholesale!
By Kirthy S
Your eCommerce site will eliminate or reduce workloads of sales and support force. Marketing on the Internet is significantly cheaper than in offline world. You will also benefit from lower telecommunication costs, losses incurred from document errors, inventory and sales management costs. This will have direct impact on your company bottom line.
Many successful importers worked in the import/export industry before they launched their own business. Not only had they become familiar with the customs and regulations of the business, they made many contacts that they can consult and seek help from. Do you have work experience in the industry you will be importing products for?
You are aware of the competitors in the market for your particular product line. You know where they are strong in and where they are weak in and you have targeted for yourself a niche where you can provide the greatest differentiating edge and advantage.
The best alternative is to use export factoring, a form of export finance. Export factoring allows you to accelerate the payment of your foreign export invoices, providing you with the necessary funds to meet your obligations and grow your company. With export factoring you can get your invoices paid in as little as 2 days. And, as opposed to most conventional financing tools, factoring is easy to obtain and quick to set up.
Invoice factoring can also be very easy to use. It works as follows:
International Background Checks 101
August 16, 2008
International Background Checks 101
International Background Checks 101
By A. Hathaway
Background checks and the services available.
A Rise in Demand
With more people around the global accessing the Internet, and the global population itself exploding exponentially, the world is making a fast transition to online. Businesses around the world now make their hiring decisions based on candidates they find on the Internet. New websites for match making or online dating are popping up daily. These days, it’s not uncommon to find a business partner or even find a spouse on the Internet. In this brave new world, come some sizeable risks.
Verifying the Story
How does an individual in Paris verify a boyfriend’s story who lives in Brazil? Or how does a small business in the United States verify a new supplier located in Singapore? And when looking for romance, just how do we know if he or she is really who he or she claims to be? These questions are becoming more common and so is the demand for background checks. The following section describes some of the services available to learn the truth.
Knowing your Options
The services offered for background checks vary greatly. Some websites offer simple searches for public records, while others combine public records searches with actual investigation. We prefer the latter, as real investigation has real results in most cases. Among the top 3 players in the United States are Kroll, Owens Online and Wymoo International. Wymoo has been expanding its market share by concentrating on customer service and custom investigations. All 3 companys have a strong global presence, while the latter offers surveillance, local investigators and complete narrative reporting.
Pricing the Market
An average background check can cost between $200 and $800, depending on the country of origin and the information needs of the customer. An average background investigation to verify a small business or foreign romance usually ranges between $400 and $600, again depending on the country and specific need for information. Always shop around for service quotes.
Filling the Need
Is it really worth having your international romance, or foreign business partner verified? Absolutely. This is the age of identity theft, relationship scams, advance fee fraud, and these scams are on the rise. Think of a background check investigation as an insurance policy. One can cross his fingers and hope for the best. We recommend contracting a professional background check service, and sleeping well at night knowing the truth.
Best of luck,
A. Hathaway
© 2006-2008 A. Hathaway
A. Hathaway has 20+ years of experience in fraud prevention, foreign markets, international investigations and background checks. His ongoing travel experience consists of over 35 countries and 6 continents. He has worked as a consultant for major firms including Philippine PI and maintains his own blog
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Understanding Import VAT-Understanding The Tax On Importing
August 16, 2008
Understanding Import VAT-Understanding The Tax On Importing
Understanding Import VAT-Understanding The Tax On Importing
By Jack Shepard
Import VAT (value added tax) is a tax levied on the total value of exchanges. VAT is typically due on all new goods imported to the United Kingdom at the same rate that applies to goods manufactured and sold within the UK. Services rendered are also subject to tax at a VAT rate.
If the goods are manufactured from outside the European Union then imported to the United Kingdom, the goods are said to already be in “free circulation”, and no additional VAT is due. The same is true when goods when you import them to the UK then sell within the EU. The tax should only be applied once upon entry to any EU locale. Service VAT is levied to all services, always.
Goods that are bought and sold second hand, such as art and collectibles, are charged a VAT rate based on the purchase price rather than the value of the goods. This payment scheme is optional for those dealing in second hand goods. You may opt to seek advice from an accountant if your second hand sales exceed £150,000 in any year.
Services relating to land and property, such as hotel stays, are taxed at the rate for the country where the land is. Physical services, such as catering, are taxed at the VAT rate for the country where the service takes place. E-commerce and distance learning are charged VAT for the country where the customer is located. Passenger and freight transport is taxed the VAT rate for the country where the transport is supplied.
The HM Revenue and Customs (HMRC) issues VAT to individuals, rather than businesses, in most instances. There are three basic VAT rates charged by HMRC - 17.5% is standard; 5% is the reduced rate and a zero rate. Depending on your business type and accounting practices, you may choose one of the following payment schemes, as set by HMRC.
The annual accounting scheme you make instalment payments at preset intervals. You pay an estimated VAT bill each month or quarter until the end of the year. At that time, you complete your accounting and submit a single return and balance due. Benefits of this scheme make accounting much simpler, as you know how much you regularly scheduled VAT bill will be ahead of time. You save accounting time by completing just one return per year. If your annual income is not expected to exceed £1,350,000, you may choose this scheme. Application for this scheme is required, contact HMRC for further instructions.
Cash accounting scheme allows you to pay VAT only on the payments you receive and make, rather than on invoices. If your customers typically pay late or at prolonged intervals, this is likely a better repayment scheme. You must meet specific conditions set forth by HMRC and your annual turnover may not be expected to exceed £660,000.
A payment scheme created specifically for retailers is for you if you sell direct to the public. The most valuable benefit this scheme provides is a simpler set of rules, saving significant time and money. Turnover limits do apply, depending on your business. Contact HMRC for further details.
Jack Shepard writes for Accordance VAT, an international VAT consultants, specialising in Import Tax & Duty . Accordance VAT offer a unique cross border tax consulting pratice, by providing one central contact for all your international VAT compliance queries.
Please visit Accordance VAT For more information about EU VAT and other international tax compliance issues.
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Importance Of Translation And Interpreter Services On Business Trips
August 16, 2008
Importance Of Translation And Interpreter Services On Business Trips
By John T. Smith
In today’s globalized economy, one cannot down play the significance of translation services during overseas trips. To make your business trip a success you need to communicate with your potential customers in their own language. By communicating with them in their own language, you can gain their trust and their business as well. The advent of the internet has led to an explosive growth in the level of business activity between nations. What we are seeing is a convergence of cultures and economic systems all across the globe. This means that people all over the globe will be communicating more than ever highlighting the need for translation services.
Some agencies bundle translation and travel services for their clients. This means that the customers can avail of translation service right from the time they embark on foreign territory. Many organizations find the translation and travel services bundle quite valuable, as their executives do not feel lost in a foreign land. These agencies ensure that the visitor is picked up from the airport and taken to the hotel room. He or she does not need to involve him in the hassle of booking a taxi or finding a hotel room in a country where the natives do not speak the same language as he does. These operators design the visitor’s itinerary in consultation with the clients and arrange for domestic travel if desired by the visitor. If needed, they also accompany the visitor during factory visits or for client meetings. If there are some contracts to be signed then these agencies also perform the document translation work and explain the nuances of the contract.
If a visitor desires to visit trade fairs, exhibitions or places of historical importance then these agencies provide personal interpreters during these visits also. All these services ensure that the visitor utilizes his time productively during a business trip and make his investment worthwhile. By availing these translation and interpreter services during overseas trips you can prove to your clients that you are serious about their business and are willing to go that extra mile to serve them better than competition.
For professional translation services in Europe, visit Goihata. Goihata provides one of the best professional and technical Japanese Translator and Spanish to English Translations
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