Deciphering Duties and Taxes…
68% of all consumers worldwide check to see if there are any additional Duties & Taxes to be paid when buying online*, 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.
Don’t know your IOSS from your DTP or DAP? We’re here to help! Read the blog.