Does transshipment trade need to go through customs declaration? Come and find out!
Solved#Entrepot trade#
I've recently been involved in transshipment trade-related business, and I'm not very clear about the customs declaration part. I've heard that the goods in transshipment trade don't enter the domestic market. So, do we still need to go through customs declaration? If so, what are the specific procedures and how are they different from general trade customs declaration? If not, will there be any risks? I hope friends who are knowledgeable in this area can explain it to me so that I can have a clear idea and know how to operate.
Professional consultant answers
Emily LiuYears of service：10Customer Rating：5.0
Settlement and payment expertConsult
Transshipment trade does need to go through customs declaration. Although the goods don't enter the domestic market for sale, customs declaration is a necessary process. This is because customs declaration can record the circulation information of the goods, which is convenient for customs supervision and statistical trade data.
The customs declaration process of transshipment trade is somewhat different from that of general trade. For general trade customs declaration, the goods usually enter the domestic market and involve the payment of import tariffs, value-added tax and other taxes; while for transshipment trade customs declaration, the focus is on the transit declaration of the goods, mainly declaring to the customs the origin, destination, transit information, etc. of the goods.
If not going through customs declaration, many risks will be faced. Once investigated and dealt with by the customs, it may be regarded as smuggling behavior, subject to fines, and even seizure of goods. Therefore, to ensure the legality and compliance of transshipment trade, it is necessary to go through customs declaration as required.
David LiYears of service：6Customer Rating：5.0
Senior customs declaration consultantConsult
Customs declaration for transshipment trade is very important as it can prove the legality of the circulation of goods. Not going through customs declaration may affect the subsequent transportation of the goods and may be blocked when clearing customs at the destination port, bringing economic losses to all parties involved in the trade.
Michelle ChenYears of service：3Customer Rating：5.0
Business coordination consultantConsult
Customs declaration can accurately count trade data and provide a basis for the state to formulate trade policies. If transshipment trade does not go through customs declaration, the lack of data is not conducive to the scientific formulation of trade policies.
Robert ChenYears of service：6Customer Rating：5.0
Customer service consultantConsult
Customs declaration can regulate the order of trade. If not going through customs declaration, the market is prone to chaos, and unfair competition may breed, harming the interests of legitimate operators.
Amanda YangYears of service：3Customer Rating：5.0
Cost control consultantConsult
Customs declaration for transshipment trade enables enterprises to enjoy relevant trade facilitation measures. If not going through customs declaration, these preferential policies cannot be enjoyed, increasing the operating costs of enterprises.
Sarah ZhangYears of service：8Customer Rating：5.0
Document expertConsult
From the perspective of customs supervision, customs declaration is convenient for the customs to supervise the goods, ensuring that the goods comply with relevant regulations and preventing contraband and other items from flowing in or out through transshipment trade.
William YangYears of service：5Customer Rating：5.0
International logistics consultantConsult
Customs declaration helps both parties in the trade to clarify their responsibilities. Once there are problems with the goods during the transit process, the customs declaration records can be used as the basis for tracing and defining responsibilities.
Andrew HuangYears of service：7Customer Rating：5.0
Supply chain optimization expertConsult
Not going through customs declaration will damage the credit of enterprises, affecting their future cooperation with the customs and other trade partners, which is not conducive to the long-term development of enterprises.
James LiuYears of service：10Customer Rating：5.0
Foreign trade tax refund consultantConsult
Customs declaration can guarantee the integrity of the trade chain, provide a basis for the authenticity of trade for financial institutions, and facilitate enterprises to carry out trade financing and other businesses.