Shipping to the EU: Compliance Requirements and Best Practices
For many businesses, exporting goods to the European Union (EU) presents a profitable economic opportunity, however, there are a number of compliance standards and requirements that must be adhered to. This blog article will discuss compliance standards and shipping recommendations to the EU. –READ MORE: Get Ready for Import Control System 2 (ICS2)– 1- Understand […]
How Digitalization is Transforming Customs
The safe and legal flow of commodities across borders is made possible by customs, which is a crucial part of global trade. Digitalization has drastically changed the way businesses and governments handle the flow of goods in recent years, including customs procedures. Here are 5 ways that digitization is transforming the customs landscape. –READ MORE: […]
IOSS – Claiming VAT Refunds on Returned Goods
For businesses that operate internationally, claiming VAT refunds can be a complicated and time-consuming process, especially when it comes to returned goods. Fortunately, the introduction of the Import One-Stop Shop (IOSS) in the European Union (EU) has made the process much simpler. In this blog post, we will take a closer look at how IOSS […]
ICS2 and the Importance of Submitting Accurate Data
The new European Union pre-arrival safety and security programme, Import Control System 2 (ICS2) will come into force on 1st March 2023 as a mandatory procedure for Economic Operators shipping goods to or via EU by air. It’s important to bear in mind, however, that submission of accurate data will play an important role to […]
MDC to Participate at the 2023 WMX in Miami
My Duty Collect will participate at the 2023 WMX Americas conference in Miami, US. The event will take place on 13 – 15 February. Attendees can join it by registering here. Don’t miss out on the chance to meet top-industry parcel and logistics stakeholders. –READ MORE: My Duty Collect is Now an IOSS Intermediary– Postal […]
IOSS: Registration for Multiple Schemes
A supplier established in the EU can be registered in the Union scheme under the OSS and also be registered for the IOSS. Registration for multiple schemes is perfectly accepted and allowed under the IOSS rules. Check out more details on whether your business is eligible for the IOSS multiple registration scheme: –READ MORE: Obligations […]
EU Commission Publishes the 2023 version of the Combined Nomenclature
Combined Nomenclature (CN) forms the basis for the declaration of goods (a) when they are imported or exported, or (b) they are subject to trade statistics within the EU. This determines the duty rates that apply and how the goods are treated for statistical purposes. The Combines Nomenclature is therefore an essential working tool for […]
Singapore Sets GST on Imports of Low-Value Consignments
On January 1, 2023, Singapore’s national Goods and Services Tax (GST) will come into force. Singapore-based consumers must pay GST on goods valued at S$400 or below. Low-value goods, or LVG, are those that are imported into Singapore via air or post that don’t exceed the value of S$400. –READ MORE: Registering for the IOSS– […]
Removal From The IOSS: How To Avoid it
The peak season is here and it is definitely the best time of the year for retailers and online sellers, considering the high demands. However, it can be tricky to remain tax compliant, especially when selling to EU-based final consumers. Non-VAT IOSS compliance can be costly and result in serious penalties imposed by the EU’s […]
U.S. Customs and Border Protection Amends Section 321 of the Tariff Act
The U.S. Customs and Border Protection has amended Section 321 (a)(2)(C) of the Tariff Act of 1930 to grant a formal exemption that allows shipments of goods to enter duty- and tax-free with a total fair retail value in the country of dispatch of no more than USD 800, imported by one person in one […]