Our company recently has a batch of goods to be imported through an agency, but I'm not quite sure what fees are involved in this process. Obviously, there's an agency fee, but what other fees are there? Are customs duties and VAT also included? Hope someone knowledgeable can explain in detail. Thanks!
Our company plans to find an agent to handle the import business. We are confused about who should handle the customs declaration for the agency import business, whether it should be the consignor (ourselves) or the agent. At the same time, we want to know the precautions for customs declaration. The best answer states that the customs declaration entity depends on the agreement in the agency agreement between the two parties. If the agent handles the customs declaration, it can be more efficient. If the consignor has the qualifications and is familiar with the goods, it can also handle the customs declaration by itself. Whoever handles the customs declaration must ensure the accuracy of the information and clarify the division of responsibilities.
The company imports goods through an agency company and doesn't know how to deduct the VAT on agency imports. It asks about the materials to be prepared and the process. The best answer states that it is necessary to obtain the Special Payment Voucher for Customs Import VAT. Depending on the situation in the "Payment Unit (Person)" column, the party that obtains the original can certify and deduct according to regulations within 360 days from the date of issue. At the same time, relevant materials should be kept properly.
It is a foreign trade enterprise in Shandong. Due to the increase in business volume, it wants to find a professional foreign trade export agency. It hopes that the agency has rich experience, professional services, reasonable fees and can provide one-stop services. It asks which is the best foreign trade export agency in Shandong. The best answer recommends "Zhongshitong". It has rich experience, professional services, reasonable fees and also provides one-stop services, which can meet the multi-dimensional needs of enterprises.
Someone who has just come into contact with the agency import business has no concept of settlement statement calculation and asks about the reflection and calculation methods of the import goods price, customs duty, value - added tax and agency fee in the settlement statement. The best answer elaborates that the import goods price is converted according to the contract, the customs duty and value - added tax are calculated according to the formulas, and after the agency fee is charged at the agreed proportion or fixed amount, they are all included in the settlement statement.
Said that the company has received agency export business and doesn't know how to handle the accounting, such as how to do the accounting for the links like receiving the funds from the entrusting party, paying the purchase price and expenses, and confirming the income of agency service fees. The best answer details that when receiving the funds from the entrusting party, debit Bank Deposits and credit Other Payables; when paying the purchase price and expenses, debit Other Payables and credit Bank Deposits; when confirming the income of service fees, debit Other Payables and credit Main Business Income, etc. It also mentions that attention should be paid to invoices, original vouchers, etc.
When doing foreign trade business, there are doubts about the difference between export agency fees and freight. Ask whether export agency fees are freight and the relationship between the two. The best answer states that export agency fees are not freight. Freight is the cost of cargo transportation services, and export agency fees are service fees paid to foreign trade agency companies for handling export business, covering the service costs of procedures such as customs declaration and inspection. The two have different natures and should be distinguished.
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Professional consultant answers
Joseph ZhouYears of service：10Customer Rating：5.0
Senior foreign trade managerConsult
Agency import usually involves the following types of fees. First is the agency fee, which is the service payment to the import agency company.
Then there's the customs duty, which is calculated based on the tariff classification of the goods and the corresponding tax rate, according to the dutiable value of the goods. The tax rates vary significantly for different goods.
VAT is also an important fee, generally calculated by multiplying the sum of the dutiable value and customs duty by the VAT rate.
There may also be transportation fees, which need to be considered if the agency company arranges the transportation. Additionally, fees like customs declaration fees and inspection fees (if applicable) are common expenses during the customs clearance process. In short, the exact fees should be determined based on the specific agency contract and actual business operations.
David LiYears of service：6Customer Rating：5.0
Senior customs declaration consultantConsult
Besides the above, if the goods require warehousing, warehousing fees should also be included. These fees depend on the storage duration and warehouse conditions.
Michelle ChenYears of service：3Customer Rating：5.0
Business coordination consultantConsult
If the goods require inspection and quarantine, there may be related inspection and quarantine fees, depending on the specific inspection items.
Andrew HuangYears of service：7Customer Rating：5.0
Supply chain optimization expertConsult
Some special goods may require licenses or permits, and the fees for obtaining these documents may also need to be included in the agency import costs.