Landed Cost Secrets: Save Time and Money
In today’s global marketplace, businesses are increasingly involved in cross-border trade. However, amidst the allure of expanding markets, they encounter complexities known as landed costs. These costs encompass the total expenses incurred once a product reaches its destination, including purchase price, shipping fees, customs duties, taxes, and additional import charges. Understanding and managing these expenses […]
Streamlining Customs Compliance: Top Strategies
In today’s globalized marketplace, businesses of all sizes are increasingly engaging in cross-border trade to reach new markets and tap into diverse consumer bases. However, navigating the complexities of customs compliance can be daunting, with regulations varying from one country to another. Failure to comply with customs requirements can lead to delays, fines, and even […]
Efficient Landed Cost Calculation Strategies
In the world of international trade and eCommerce, determining the true cost of imported goods is paramount for making informed business decisions. Landed cost, which encompasses not only the price of the product itself but also additional expenses incurred during the procurement process, holds the key to accurate financial planning and pricing strategies. However, navigating […]
Get to Know Our Compliance Solution for the UK
With the UK’s official withdrawal from the European Union, relations between British and EU-based traders took new commercial, political and even social directions. Currently, countries on both sides are struggling to comply with numerous new rules and requirements that have added more complexity to the flow of goods in the region. Although economic agreements facilitate […]
Get to Know our Landed Cost Calculation Engine
In the intricate web of global logistics and supply chain management, one crucial element stands out: the Landed Cost Calculation (LCC). This tool serves as the compass for decision-makers, meticulously deciphering and evaluating every step of the shipment process to unveil the true cost implications. At My Duty Collect, our state-of-the-art Landed Cost Calculation engine […]
5 Things You Should Know About the Classification of Goods In The EU
Navigating the classification of goods within the European Union (EU) can be a complex task for importers and exporters alike. Understanding the nuances of EU customs regulations is essential for smooth cross-border transactions. Here are five key insights to help you master the classification of goods in the EU: – READ MORE: The Importance of Landed […]
How ICS2 is Bringing Complexity to the Flow of Goods in the EU
In an increasingly interconnected world, the European Union (EU) plays a pivotal role in shaping international trade policies. The flow of goods across its member states’ borders is a complex, multifaceted process that involves various stakeholders, intricate regulations, and evolving technology. Recently, the introduction of the Import Control System 2 (ICS2) has further heightened the […]
DDU or DDP: What is the Best Option for Consumers?
In the realm of international trade and eCommerce, incoterms play a significant role in shaping customer experience. These terms dictate who is responsible for paying customs duties, taxes, and other fees associated with cross-border shipments. But what exactly do DDU and DDP entail, and which option is the best for consumers? Let’s delve into the […]
The ViDA Proposal: Revolutionizing VAT in the Digital Age
The European Commission’s proposal on VAT in the Digital Age (ViDA) marks a significant step toward modernizing the European Union’s VAT system. Unveiled in December 2022, ViDA aims to address the challenges posed by the digital economy and streamline VAT processes across EU member states. This blog post provides a concise overview of the key […]
The Digital Revolution: Streamlining Supply Chain and Customs Operations
In today’s globalized economy, businesses are constantly seeking ways to stay competitive, improve efficiency, and reduce costs. One of the most significant advancements in this quest is digitalization, which has transformed supply chain and customs operations. In this article, we will explore the importance of digitalization in streamlining these critical aspects of international trade and […]