Duty risk – relocation of production may lead to penal duties

In the current global trade situation, supply chain bottlenecks may form a strain on your business. It may make sense to take another look at your current supply chain. Companies that have outsourced part of their production cycle, or are looking into relocation production, should be particularly aware of the importance of the origin of goods. If production is relocated to a new supplier or a new country, it is important to check whether any trade bans or measures are in place which might impose additional duties or restrictions. The origin of the goods is highly relevant and the true origin of the goods should be determined carefully. An airtight import strategy is crucial to prevent unnecessary expenses and penal duties.

Source: bakertilly.nl

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