The Importance Of Customs Valuation

Whether you are trying to sell something to a client in Mexico or you are interested in the import export business you will have to learn a few things about shipping to Mexico. If you are really serious about it and you need to meet consumer expectations and deadlines you will have to know all the ins and outs of the industry.

Packing a product is the easy part everyone knows how to do. You just have to make sure the product is carefully packed, that it can sustain some physical shocks and that it will not leak or smell like anything. After all this is done, you have to make sure the address is written correctly, that you have attached the invoice and other necessary papers.

A big part of the process when you are shipping to Mexico is the customs valuation. One of the things that matter the most is the price value of the product you are selling. This can be tricky as some costs will be included like commissions or brokerage while other will not. A cost like the cost of transportation is included in the customs valuation.

The final valuation is influenced by the value you declare in the forms you must submit. Be careful to state it accurately because the customs brokers have many ways to determine if the valuation is right. They will become suspicious if for example they find out you are related to the person you are sending the package to and will double check the data. If merchandise is not valued properly, it will be held longer than expected. Reference prices are used to determine the value of some products as there is a minimum estimated price for each of them.

The valuation is stressed so much because it determines the taxes you are going to pay. Some products are taxed more so in order to be sure that everybody will declare accurately they check about 10% of the boxes, which pass through customs. If you are sending your box through a shipment service, your task will be easier as you only have to submit a valuation form and ask for an estimate of the tax. After the tax is paid and the paperwork is submitted, your package will be safely on the way.

This entry was posted in law. Bookmark the permalink. Follow any comments here with the RSS feed for this post. Post a comment or leave a trackback.

Leave a Reply