Deciphering Duties and Taxes…
47% of customers are put off from buying from international sellers due to lack of transparency over custom charges, and as every country has its own duty and tax requirements, tax compliance is one of the biggest challenges of global eCommerce shipping.
You can’t bury your head in the sand when it comes to Duties & Taxes. Don’t pay the correct amount or submit the correct documents, and your parcel could either be held at customs or the costs will revert to your customer – which will only annoy and frustrate them if they’re not expecting it.
There are a number of tools and services that can make it easier to manage Duties & Taxes. For example, shipping with IOSS (to the EU) or DTP (Duties & Taxes Paid) and having a Duty Deferment account can help manage compliancy, as well as cash flow, so you can ship to customers worldwide without tax complexities impacting your customer.