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The top 5 risks in the import process

If your company also has a habit of importing products, it is necessary to be aware of the risks associated within international negotiations.

Every business always presents risks. However, when you get ahead of them, it is simpler and more assertive to make the necessary corrections. International trade also involves a considerable amount of risk. In this article we will discuss the main ones so that you do not feel harmed if any of them occur.

Import risks are mainly associated with procedures to be completed before, during and after goods pass through customs.

 

01. Documentary risk

There is an immense and complex Brazilian bureaucracy in the import area. It is necessary to register and classify your merchandise correctly and attentively. Whatever the error or bad elaboration may lead to customs losses, delays and even very high fines, not to mention the seizure of every product / item of cargo.

 

02. Customs tariffs

You need to be aware of possible currency variations and unforeseen changes.
The economy is volatile and causes currencies to fluctuate in value very quickly. The economic situation of the country also influences these changes.

That is, the foreign exchange risk is associated with variations in the billing currency of the import operation in relation to the value of the real at the time. The higher the value of the real, the lower the import margins in foreign currencies and vice versa.

 

03. Taxes

Value-added taxes on imports. Below is a list of the main taxes levied on imported products:

– ICMS (Tax on Movement of Goods and Services)
– II (Import Tax)
– IPI (Industrialized Product Tax)
- PIS and Cofins

To know which of these taxes will be de-counted from your import, it is essential to make an analysis of the NCM code of the product. With this code you can make a query to the Revenue website and find the exact rate applied on the item that will be resold in Brazil.

 

04. Be aware of current legislation

Importers must be up to time with the legal rules applicable to imported goods, which vary from one product to another.

Counterfeit products: on import, it is important to be aware of counterfeit products, whose marketing is prohibited in Brazil. This risk is particularly present in the purchase of products over the Internet. Our legislation informs that this practice focuses on various crimes, such as fraud in trade, provided for in Article 175 of the Penal Code. The punishment, in these cases, is six months to two years in prison or fine.

 

05. Evaluate the type of import

Companies must clearly indicate to the dispatcher the type of import they wish to carry out: permanent or temporary import, transit or other.

To avoid problems in importing goods into Brazil, companies can contact professionals in the sector who facilitate the process since they are aware of all the formalities to be fulfilled.

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import, main import risks, import process, import risk, import process risks

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