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Importing definitive

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  • 1. IMPORTING

2. BASIC TERMS Imports: goods and services flowing intoa country Importing: the purchase of goods andservices by a firm based in one countryfrom sellers that reside in a differentcountry results in payments to the sellers affords less control over the production function 3. REASONS TO IMPORT Raw material shortage. Equipment and machinery shortages. Cost reduction Quality Price 4. IMPORT STEPS1. Market study2. Product identification3. Import registration4. Approvals5. Transport contracting6. Nationalization7. Import payment 5. CUSTOM CODE63 - Los dems artculos textilesChapterconfeccionados; juegos, prendera y trapos. 63.02 - ropa de cama, mesa, Custom Codetocador o cocina. 63.02.10 - Ropa de cama, deSubcustom Code punto. 63.02.10.10.00 - De bras Tariff Positionsintticas o articiales. 6. THE IMPORT PROCESSMARKET STUDYCUSTOMS AGENTProduct - MarketYES APPROVALS IMPORT(Respective IMPORT > 1000TRANSPORTREGISTRATIONentities) USD($30.000)NO IMPORTERPAYMENT OF THE IMPORTNATIONALIZATION OF THE (letter of credit, bank transfer, cheque,MERCHANDISE ANDcobranza, letra de cambio) PAYMENT OF TAX DUTIES (*)(*) If the import value is above USD 5000, a Declaracin Andina de Valor must be shown to the customs administration. 7. SPECIFIC PROCEDURE Moving goods to final destination ReleaseTransportation Mean ArrivalNotifying to National Custom(Levante)Territory Criterio de Selectividad:Cargo Entry Manifest Presentation Automatic ReleasePhysical InspectionDocumental InspectionDownloading OfMerchandiseCustom Duties PaymentMoving to CertifiedWarehouse DIM Presentation andacceptance 8. IMPORTING PROCESS IN COLOMBIA TRANSPORTER OR CARGO AGENTDECLARERNATIONAL CUSTOM Start Direct unloading Criterion of selectivityNotication of arrivalPresent declaration ofInspectionYesMoved to authorizedArrival of the depositYesmerchandise to theNCTSatisfactory Automaticrelease Justify inconsistenciesYesAccepted ReleaseYes Unloading of the YesCorrectedmerchandiseNotify custom authorityPayment of tributes Seize andconscation Inconsistencies END Yes 9. IMPORT REGIMESFree:No special requirements by the custom administration,just registry and permissions. 10. IMPORT REGIMESPrevious license:Chemicals for narcotics, weapons, ammunition,explosives, damaged goods, used goods, refurbishedgoods, tax exempted goods, ofcial entities imports(Ecopetrol) 11. IMPORT REGIMESForbidden:Chemical, nuclear and biological weapons. Nuclear ortoxic waste, Aldrin, Heptaclor, Dieldrine, Confeclor andLindano. Military toys and military equipment (indumil) 12. IMPORT MODES 13. 1. AVERAGE IMPORTMerchandise coming from abroad.National Custom TerritoryIndefinite StayingPayment of DutiesFree Disposal of MerchandiseDeadline to declare 15 days in an anticipated mode 2 months regularly 14. 2. FRANCHISE IMPORTImport that because of a treaty, agreement or lawenjoys the benets of a total or partial exemptionof taxes.Restricted availability of the merchandise. Partial or Total Custom Duties exemption (PAEZ &QUIMBAYA LAW 0% - 0% Tariff+VAT 255/92 &2148/91 Tariff+0%VAT Est Tributario Art 424) 15. 3. REIMPORTING FOR PASSIVECOMPLETIONNeed to export merchandise temporarily for manufacturing, repairing or transforming, once it gets back to Colombia it has to pay taxes over the added value acquired abroad.New tariff subsection.Free availability.Docs: DEX Copy, Com Invoice (A Value), Mandate, Certificate Of Origin (If applicable). 16. 4. REIMPORTING IN THE SAMECONDITIONS No Custom Duties since there is nocompletion Free availability DEX Copy, Transp Document, Def Exp(Certification of benefits Pay Back),Mandate. 17. 5. WARRANTY ACCOMPLISHMENTIMPORT. No Custom Duties: Fixing-Replacement It is under Free Availability Documents: DEX Temp E for Pas Com,Current Warranty (Original), Transport Doc& Mandate. 18. 6. TEMPORARY IMPORT FORREEXPORTING IN THE SAME CONDITIONShort Term: No Custom Duties, 6 Months + 3, RestrictedAvailability.Long Term: Custom Duties payment by Semester Quotes, 5Years max, Restricted Availability.Leasing: renting machinery with or without purchasingoption. More than six months.Tourists vehicles: up to 6 months *2 depending on the visa.Mode outcomes: Reexporting, Average Import, Destruction,Abandoned or Confiscation. 19. 7. TEMPORARY IMPORT FOR ACTIVE COMPLETIONA. Capital Goods: Fixing or Completion.No Custom Duties. 6 months + 6. RestrictedAvailability. DIAN Industrial Facilities. Outcome: ReexportingB. Import- Export Special Systems. (plan Vallejo)C. For Industrial Processing (ALTEX & UAPs)Restricted Availability. Bi-monthly reports 20. 8. IMPORT FOR TRANSFORMING ORASSEMBLINGIndustries Recognized by Mincomercio andAuthorized by DIAN. No Custom Duties atfirst. 2 months for completion.DIAN authorizes and enables thewarehouses. 21. 9. POSTAL TRAFFICNo more than U$2000. Free AvailabilityNo more than 50 Kg, 1,50Mts. No more than 6 unitsof the same product.Imports reception & delivery by National PostalAdmon, private courriers and CA authorized by MinCommunications.Declared with the Express Manifest.Tariffs: 98.03.00.00.00.= 10%T & 16%VAT 22. 9. POSTAL TRAFFIC 23. 10. URGENT DELIVERIESCatastrophes. No ErrandsMerchandise in chapters 84 & 90Harmonized Tariff Schedule ( Machinery,Equipment, Planes, Vehicles and others)must be reexported or be submitted to theimport mode after they are done. 24. 11. TRAVELLERS(5 calendar days) (U$1.500) as Baggage No Import register or licenseCash U$10.000Up to three units of:(2.500 USD)AppliancesSport articlesProfessional equipment 25. 12. NON COMMERCIAL VALUEDSAMPLES10 units for less than U$ 50Up to U$1000 with a label stating that they aresamples without any commercial value. 26. COMPENSATION PROCESS Way of Payment Exchange Declaration # 1 + 6 months/Report/External Debt Merchandise + U$10.000/Exchange Dec #3 27. IMPORT SUPPORTING DOCUMENTS 28. IMPORT SUPPORTING DOCUMENTS Commercial Invoice Import Register or License Import Declaration Andean Value Declaration Packing List Transport Document Certificate of Origin Approvals & Certificates Preserved for 5 years