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Customs Matters for Vendors

Customs Matters for Vendors. Bermuda Small Business Development Corporation Vendors Matters – Evening Seminar Wednesday, April 29, 2009 Fairmont Hamilton Princess. Know your stuff!. What is it? What is it made of? What does it weigh? Raw material? Finished product ?

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Customs Matters for Vendors

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  1. Customs Matters for Vendors Bermuda Small Business Development Corporation Vendors Matters – Evening Seminar Wednesday, April 29, 2009 Fairmont Hamilton Princess

  2. Know your stuff! • What is it? • What is it made of? • What does it weigh? • Raw material? • Finished product ? • Replacement or spare part? • Sold singly or as a set? • Part of a system? • Duty relief available? • Import licence required? • Cost?

  3. Basics All vendor imports — A. Are subject to duty B. Are subject to wharfage C. Must be declared on a BCD

  4. Duty & Wharfage • Duty • Regular rate22.25% • Glass jars and bottles0% • Clothing6.5% • Imitation jewellery6.5% • Shoes10% • Wharfage • Hamilton1.11% • Airport1.01%

  5. Declaration and duty payment • Who? • Vendor • Agent • Where? • Hamilton • Airport • Post • Courier • When? • Within 5 days of importation

  6. Forms • BCD • Refer to PN 17 • CTD • Personal goods only • Short Form BCD • Refer to PN 5

  7. Entry package • BCD (one copy) • Payment (duty and wharfage) • Invoices • BOL/AWB • Relevant permits licences or authorisation • Refer to PN 17

  8. Commercial goods in baggage • Released goods examined after pax. processing • Unreleased goods held in bond until next AM Helpful hints: • Have extra copy of invoices • Bring back ‘bond-tag’

  9. Duty Relief • CPC 4146 – Extracts, essences or concentrates • CPC 4147 – Refractory substances • CPC 4151 – Plastic containers, stoppers, lids and caps • CPC 4153 – Cardboard or paper cartons, boxes, cases and bags

  10. Vendors are “Customs Traders” • Trader ID mandatory • Record keeping rules apply • BCD Completion Codes are key

  11. Duty refunds • Duty paid in error • Application within 6 months of payment • To give effect to a duty relief • Written application to Collector of Customs

  12. H.M. CUSTOMS: Custom House 40 Front Street Hamilton HM 12 Bermuda Telephone: (441) 295-4816 Fax: (441) 295-5392 Email: customs@gov.bmWebpage: www.customs.gov.bm Contact our Tariff Classification Officer Email: tariffclass@gov.bmTel: (441) 278-7422 or 278-7423 Contact our Valuation Officer Email: customs_valuation@gov.bmTel: (441) 278-7422 or 278-7423 Contact our Reviewing Officer Email: customs_reviews@gov.bmTel: (441) 278-7405 Getting help

  13. www.customs.gov.bm

  14. Commodities Tariff Search

  15. Don’t agree with Customs? • Two stage appeal process: • Departmental review • Appeal to Tax Tribunal • Appealable matters: • Duty • Penalties • Ancillary matters • Refer to PN 15

  16. Any questions?

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