Know your customs classification risks before the authorities do – and save money in the process
PwC has developed a new AI based tool to help importers and exporters classify goods for customs more effectively. You’re invited to give it a try for free.
All you do is give us specific customs-related information, and we’ll provide you with a heat map to a) help you identify your customs classification risks and b) see where you could be using tariff codes with lower customs duty.
What’s the problem with the present customs classification process?
Until now, determining the correct tariff code for imported and exported goods has been a pretty haphazard process, all done manually.
Usually companies get their freight forwarder to do their customs classification, without realising that a) it’s the declarant, not the forwarder, who’s ultimately responsible for classification, and b) with so many competing tariff codes, classification is often ambiguous. If you get it wrong, you can expect problems with the authorities – and you’re probably paying too much customs duty in any case.
The classification of goods has an impact on customs and excise duties, import VAT, origin management, preferential duties, and import and export restrictions. Get the classification right and you have much greater insight into and control over the entire customs process.
Basically, you supply us with specific data related to the present classification of your imported and exported goods, and we’ll send you a heat map providing the following information:
Incorrect classification and opportunities for saving money
Insufficient product descriptions and potential export controls and sanctions
Other insights and summary