Many Canadian businesses export goods to Europe with many of them going to the EU states. But there are also several states that are not part of the EU and still receive imports from Canada.
Marketing Your Export Offerings
Fortunately building a business that is going to export to Europe can be easily marketed thanks to the internet. If you are going to use this as a resource then you may need to find simple ways to improve your website so that it is appealing on an international level.
Exporting to Europe
28 states presently make up the EU. As such they are a common market and export rules and regulations apply to them collectively. To Canada, the EU is an important trading partner.
Any business in Canada that is going to export must have an import/export account with the Canada Revenue Agency. To obtain this, it means obtaining a business number. This is all done through the CRA.
A detailed description of the goods being exported is required. This is what helps to determine if there are any restrictions or specific regulations that will be applied to the goods being exported to Europe.
The Eu has a classification of goods system called the Combined Nomenclature (CN). When shipping goods to the EU, this is the classification system that is used. The classification is a series of numbers. The first six digits apply to all markets while the rest of the digits apply to the EU. Another method for finding the classification code is to use the online tariff database called Taric.
The duties on certain items being exported can vary. In many cases, it is a percentage of the import price. In other circumstances, there can be a fixed amount plus a percentage. By using the Taric as a result, it will provide the duties payable on any product being exported. Also if there are other requirements like licenses, this information can also be found on the Taric database.
Value Added Tax
Importing goods to Europe also means the importer are responsible for vat. Each of the countries within the EU will have their own VAT rates.
Export duties will be applied to certain imports such as alcohol and tobacco.
Canadian importers have to be aware of the Tariff rates. Particular attention has to be paid to tariff rate quotas.
The Canadian exporter to the EU must complete the proper documentation for customs clearance. This means completing the Single Administrative Document.
Exporting to European Countries Outside of EU
Canadian businesses also have the opportunity to export to countries that are not part of the EU.
A good example of this is Iceland. Canada has a free trade agreement with Iceland under the European Free Trade Association. Each country will have its own rules and regulations for receiving imports from Canada. Business owners should check out these specific rules, so they are able to comply with them, and avoid hassles at customs.