Have you been considering a new business venture that deals with customs transactions? Are you thinking of starting a lucrative venture with a company abroad? Or perhaps you are thinking about expanding your current business model into the exciting world of importing and exporting. In El Paso, living near the border can make these wishes a reality in a tangible way. So, you choose your business, buy your goods, and want to start as soon as possible. Unfortunately, it’s not that simple. When you are in the importing and exporting business, you quickly learn you have one partner you didn’t factor into your model: U.S. Customs. This industry is full of rules, regulations, taxes, duties, and other customs transactions that can be as confusing as any business tax return.
No matter what you decide to import or export, you will find that border inspections, duties, and regulations can be a tricky business. Not only do you have to clear what you are bringing in or sending out, but you also have to keep track of lots, weight, and other countless numbers. Customs transactions means anything dealing with the import and export of goods through international borders. It doesn’t matter if you are exporting live cattle or importing Mexican jumping beans; you will still have to go through inspection, disclosure, and calculating how much duty is your responsibility to pay. All of these things are considered customs transactions.
For example, when you import a shipment, it will undergo a complete inspection by customs officers to rule out any illegal substances or animals. During this inspection, you will be required to declare how much you paid for your shipment. You will be charged the proper amount of duty from this number. You will also be subject to transaction values, cost of inspection, etc. Any type of merchandise being imported into the United States or exported from it is subject to thorough scrutiny by customs officials. This ensures it is in accordance with all rules and regulations of U.S. and international laws.
At this point, you may be rethinking the idea of importing or exporting anything. However, don’t let some complicated customs issues put you off of your business. You can simplify matters by finding an experienced customs broker to help you out. A customs broker can take over dealing with customs on behalf of your business. At RM Customhouse Brokers, we have over 60 years of experience helping people sort out all types of customs transactions. Don’t worry about dealing with confusing customs protocol- let the professionals handle it for you. Contact us today for more information about our services and how we can help you!