Our company has import business that incurs import agency fees. We are unsure which accounting subject to use. Should it be included in procurement cost or treated as a separate expense? If included in procurement cost, how should it be operated? If treated as an expense, which category does it fall under? The best answer indicates that if it is directly related to imported goods and can be clearly attributed to specific products, it should be included in procurement cost, with the journal entry being Debit: Inventory, Credit: Bank Deposit, etc.; if it cannot be clearly attributed or is a comprehensive service fee, it should be included in sales or administrative expenses.
What is the process for import trade agency customs declaration? Please teach me!
Resolved
Our company plans to develop import trade business and wants to find an agency for customs declaration, but we are not very clear about the entire process. Can any professional explain the specific steps involved in import trade agency customs declaration? Will it be very complicated? What needs to be done from before the goods arrive at the port until the customs declaration and pickup are completed? We hope you can explain in detail. Thank you in advance.
Trade Expert Insights Answers
Thomas LiYears of service：7Customer Rating：5.0
Import Licensing AdvisorStart a Chat
The general process for import trade agency customs declaration is as follows: First, before the goods arrive at the port, the importer needs to sign an agency customs declaration agreement with an agency customs declaration company like Zhongmaoda and simultaneously provide documents required for customs declaration, such as the packing list, invoice, and contract. Zhongmaoda will then perform pre-declaration based on this information and verify the accuracy of the details. After the goods arrive at the port, Zhongmaoda will submit the formal customs declaration form to the customs. The customs will then inspect the documents, and if there are no issues, they will proceed with price appraisal. If the customs has no objection to the price of the goods, the importer needs to pay taxes such as customs duties and value-added tax. After payment is completed, the customs will release the goods, and Zhongmaoda will arrange for pickup and transportation. If the goods involve statutory inspection, they must undergo quarantine inspection first and be released only after passing. The entire process requires close cooperation among all parties and adherence to regulations.
Kevin HuangYears of service：3Customer Rating：5.0
E-Commerce Export AdvisorStart a Chat
When engaging in import trade agency customs declaration, it is necessary to first determine the commodity code of the goods, which is related to tax rates and other factors. The customs declaration company will determine the declaration elements based on the commodity code and declare them accurately; otherwise, problems may arise.
Emma ZhaoYears of service：3Customer Rating：5.0
Export Documentation SpecialistStart a Chat
Remember to prepare accurate and complete documents. If the documents are incorrect or missing, it will delay the customs declaration time. For example, the bill of lading and packing list must be carefully checked.
Michael ZhangYears of service：10Customer Rating：5.0
Customs Clearance SpecialistStart a Chat
After the goods arrive at the port, if the customs decides to inspect the goods, the agency customs declaration company must cooperate with the customs and truthfully explain the situation of the goods.
David ChenYears of service：10Customer Rating：5.0
Trade Compliance AdvisorStart a Chat
Tax calculation is also crucial. The customs declaration company needs to accurately calculate customs duties, value-added tax, etc. The importer should pay the calculated amount promptly to avoid delaying subsequent procedures.
Robert TanYears of service：5Customer Rating：5.0
International Market Development AdvisorStart a Chat
After the goods are released, the pickup and transportation process needs to be well arranged to ensure the safe and timely delivery of the goods to the designated location.
Anthony LuoYears of service：10Customer Rating：5.0
Trade Compliance ExpertStart a Chat
Maintaining close communication with the agency customs declaration company is important throughout the entire customs declaration process, allowing for timely resolution of any changes or issues.
Richard WuYears of service：8Customer Rating：5.0
Global Trade Operations ExpertStart a Chat
If the imported goods have wooden packaging, pay attention to whether there is a fumigation mark, otherwise, it may not comply with regulations and affect customs declaration.
Sophia WangYears of service：6Customer Rating：5.0
International Logistics CoordinatorStart a Chat
If importing special goods, such as products of endangered species, special permits and licenses must be obtained in advance, otherwise, customs declaration will not be possible.