In international trade, every country has its own set of rules and regulations for trade compliance and tariffs. It’s important to be aware that information becomes more scarce in complicated destinations. This can decrease transparency when pricing is involved which could lead you into a spiral effect of not knowing what prices should look like or where they’re coming from – making this an even bigger problem than before!
You may have heard the saying “Don’t fly blind” but what about when you’re importing goods? The process of bringing something into another country can be difficult, time-consuming, and frustrating. In Africa, the information you need will rarely be available online, and it would be difficult to get in contact with customs authorities to find information without having a local representative. This is where working with an importer of record becomes invaluable, they know all there’s to know about compliance and tariffs in your target markets; their local presence will allow them access to information from customs departments.
Does working with an importer of record solve the price transparency issues? The answer depends on the reliability of your partner. When you request a quote, the importer of record will submit a quote that includes elements such as:
| IOR Fees | Transportation |
| Approvals | Freight charges |
| Customs Brokerage | Duties |
| Customs inspection | VAT |
| Airport charges | Other Tax |
The quote breakdown can become overwhelming due to the number of included items and the difficulty of interpreting each element. Transparency issues start to happen when an importer of record manipulates the quote, an importer of records might provide you with a very low IOR fee, that looks attractive on paper, but he might unjustifiably increase duties and taxes to make up the difference. This is where you as their customer come in! Always ask for official receipts for payments made to third parties, and always make sure to clarify the items listed in your quote, this makes it easier for you to protect yourself and make sure that the importer of record bringing in your products is trustworthy and transparent.
At IOR Africa, we strive to provide you with full transparency and clarity. We do not charge any hidden fees; your quote is absolutely clear from beginning through end to ensure there are no surprises on the other side. We guarantee full transparency throughout all phases of doing work as well as providing receipts when paying third parties such as duty & tax.
FAQs
What are import tariff charges?
Import tariffs are essentially taxes imposed by the customs authority when goods are brought into a country. Typically, the value of the imported goods decides the amount that will be charged. In certain situations, import tariffs can also be referred to as import duties, customs duties, tariffs, or import tax.
What is the name of the import fee?
A tariff, also known as duty, serves as a tax imposed by governments on the total value, which includes freight and insurance, of goods brought into a country.
What is a tariff on shipping?
In simple terms, a tariff is essentially a tax imposed by the government on products and services as they enter the country, specifically on imports.
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