Retrieve Your Value-Added Tax Refund By Partnering With An Importer Of Record
While there are many opportunities for technology re-sellers to expand their business by partnering with international clients, unfortunately the costs and inconveniences associated with cross-border transactions can be enough to deter them, leading them to make the safer (though less lucrative) decision to remain in an oversaturated local market.
The challenge of shipping IT equipment overseas is that it is treated as a dual-use good, which is heavily regulated on the account that it may be used for both civilian and military purposes. Re-sellers must obtain all the proper permits, customs support documentation, licenses, freight delivery waybills and more before authorities award it clearance across the border. Typically, doing this detailed paperwork is outside of a re-seller’s expertise, and becomes precarious when every country has varying rules and stipulations; where one innocent misstep can cause major delays. The shipping destination is not always going to be where the client overseas runs their business either. The equipment must be sent into data centres located at specific points across the globe, therefore it is recommended to choose a partner who is experienced in these types of imports.
Another aspect that can break the backs of companies exporting controlled commodities is the tax. Did you know that up to 90% of the cost of shipping equipment can consist of taxes? Furthermore, if you are not a resident of the receiving country that pays taxes, there is an added import VAT (or Value Added Tax) to consider, comprised of up to 25% of the goods’ commercial value. What if by partnering with a reputable Importer of Record, you could have this value-added tax refunded?
TecEx is one company that can serve as your Importer of Record, ensuring fast and compliant clearance of your goods. They can also apply for all the necessary permits for you, as they are versed in the import law of 136 countries with which they hold a point of presence. Visit https://tecex.com/tecex-importer-of-record/ to see how they can help you retrieve a VAT refund for your company from 40 of these countries in no more than 6 months post clearance, and how, once the shipment clears and is delivered, the tax recovery process begins. No longer is there a need to write off these costs (which most re-sellers view as a necessary burden they must contend with), you can actually get them back and put them towards business.
Shipping technology across the border is not a simple, or straightforward process. In fact without the experience, it can drain company resources and spoil a re-seller’s reputation with potential clients on an international level. This does not mean you are forced to remain exclusively in a local market however. There are global distributions partners able to guide you through importing and exporting, ensuring all precautions are taken and prerequisites for clearance are obtained. This way, you can take advantage of opportunities for expansion, grow your clientele base, and foster international relationships.