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Customs Matters: Essentials for Vendors - Bermuda Small Business Development Seminar

Join us for an informative evening seminar on April 29, 2009, at Fairmont Hamilton Princess, where we will cover vital customs matters for vendors in Bermuda. Learn about duty rates, wharfage, and the necessary documentation for imports. Topics include understanding raw materials versus finished products, duty relief availability, and the customs declaration process. Gain insights on cost implications, trader responsibilities, and how to navigate potential disputes with customs. Don't miss this opportunity to enhance your knowledge and ensure compliance in your trading activities.

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Customs Matters: Essentials for Vendors - Bermuda Small Business Development Seminar

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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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