In foreign trade, mistakes can result in major losses, so it is important to always be aware of current legislation. Violations are subject to penalties, which can range from fines to loss of merchandise.
In this article, we will present the main causes of fines for imports and exports and some tips on how to avoid this type of penalty. It is important to note that there are fines with fixed values and others with variable values (with a rate on the Customs Value or Import Declaration), as we will see throughout the text.
Main fines on import and export
The main causes of fines are in mobile database import operations, which is why structured compliance is very important in companies, seeking to minimize risks through prior planning, technical knowledge of the process and end-to-end monitoring. It is very important to pay attention to the relevant documents so that the processes contain all the necessary information and that it is correct and coherent. One mistake can snowball as one document guides another, so throughout this article we will present some tips on how to avoid them.
In exports, as there is an incentive from the country to sell goods abroad, there are simplified procedures and consequently fewer fines compared to the import process, even so there are situations that lead to penalties.
Some examples of fines are:
inaccurate or omitted information in shipping documents;
use of falsehood to enjoy tax benefits;
omit information;
contempt of customs most companies share a common authorities and hinder inspection activities;
error in issuing export invoice;
error in the statistical unit of measurement;
Below is a table available from the Federal Revenue Service with some common penalties:
REASON LEGAL BASIS PENALTY
Incorrect tax classification Art. 711, I, of the Customs Regulations 1% of the Customs Value (minimum R$500.00 and maximum 10% of the total DI value)
Declared price different from the one arbitrated Art.
You can find out more at: Summary Table
When can I rectify erroneous information?
In cases uae cell number of import, the accuracy of the data on the bill of lading is very important, as it will guide the Merchant CE (Electronic Bill of Lading) and, in due course, the Single Import Declaration (DUIMP). In the case of export, the Invoice and Packing List will guide the issuance of the bill of lading and, in the future, the Single Export Declaration (DUE).
When information is incorrect, it is necessary to make a correction, but it is very important to be aware of the deadlines required by the Federal Revenue Service and also by transport companies – to avoid incurring extra fees.
Read also: What is demurrage and how to avoid paying this fee ?
So how can you avoid customs fines and other losses?
As a way of seeking to minimize the impacts of eventualities that may occur during the course of their operations, those involved in Foreign Trade adopt the so-called Risk Management, which involves structured compliance, good communication, the use of technology and extensive knowledge of the legislation.
