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Raymond Yang

Raymond Yang

Lawyer
8 Followers
From United Kingdom
To Canada
Aug 09
2021
1
answer
Raymond Y.
Aug 09, 2021

Sea shipping generally takes approximately 3-6 weeks, depending on your origin and destination. LCL tends to take a few days longer than FCL due to consolidation and deconsolidation.

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Input Tax Credit

We have purchased inputs from our supplier one year ago. Can we claim Input Tax Credit (ITC) now?
From United Kingdom
To Italy
Jul 26
2021
1
answer
Raymond Y.
Jul 26, 2021

Input Tax Credit on GST cannot be claimed if invoice is more than one-year-old. So GST input tax has to be availed within a year from the date of invoice from supplier.

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Insurance Documents

What are types of insurance documents?
From United Kingdom
To Austria
Jul 08
2021
1
answer
Raymond Y.
Jul 08, 2021

There are three types of insurance documents:

a) Insurance Policy: The insurance policy sets out all the terms and conditions of the contract between the insurer and insured.

(b) Certificate of Insurance: It is an evidence of insurance but does not set out the terms and conditions of insurance. It is also known as ‘Cover Note’.

(c) Insurance Broker’s Note: It indicates insurance has been made pending issuance of policy or certificate. However, it is not considered to be evidence of contract of insurance.

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Pakistan export

How can I start import and export business in Pakistan?
From Pakistan
To United Kingdom
Jun 22
2021
1
answer
Raymond Y.
Jun 22, 2021

Export from Pakistan can be done only if you have an Export company. Export companies may be established in Pakistan in the form of sole monopolies, associates, or limited liability or public companies. 

  • Become a priority exporter. As a rule, an exporter is recognized as a priority exporter when it operates in Pakistan and regularly has export or import activities. You can only apply for a priority exporter when you have a company established. To facilitate priority exporter, according to the guidance of the World Customs, Pakistan Customs is preparing a comprehensive plan to facilitate the clearance of goods. Priority exporter must provide all details related to their business to receive this incentive. Customs will look up details such as: Profile of the company, bank account, number of employees and information of foreign partners. 
  • Building relationship and communication. Exporting from Pakistan start from marketing and relations creation, globally. 3rd party referrals are necessary in establishing export business relationships. Pakistanis themselves like to work with people they know and trust and they will spend time building more relationships to get to know you better. Pakistanis like to work directly, face to face. They do not like to work over the phone. 
  • Use export intermediaries services. Sometimes setting up a formal business can be a hassle. In this case, we recommend using third party services. The advantage of an intermediary service is to help you package your import and export business licenses. There are many services which offer it. You can choose the one which is cost-effective and efficient. They must be responsible for compensation if they have done something wrong or something not required. They provide free consultation on the initial procedures that businesses need to do, the rules of accounting, invoices of legal documents, laws related to tax laws in business. Supporting accounting services for businesses.
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Import business

How to start an import business from Turkey
From United Kingdom
To Turkey
Jun 09
2021
1
answer
Raymond Y.
Jun 09, 2021

Determine the importable goods from Turkey
Sourcing is the first factor a business person must consider. Depending on your business strategy, you will need to choose suitable goods from Turkey to import.
You can find the websites specializing in goods trading, groups / social networking sites with many wholesale businesses, or surveying famous wholesale markets in Turkey where they sell what kind of goods you want to import.
Find the export agents in Turkey
Make sure you are working with a professional export agent, it will save you time and money. Local agent or expert usually knows the local prices and know how and where to get the good with the lowest price, meanwhile ensuring the quality.
Negotiate & Sign the contracts
Time to negotiate and agree the terms, all should end up in contracts; What are the quantities, prices, packing, payment terms, delivery terms, documentation, warranty. Support shipping or marketing after delivery?
Consider the above notes before signing the contracts.
Check the shipping process
In this step, you can check the shipping cost, shipping time.
Importing from Turkey
For customs clerance: as per Turkish customs regulations, the transport companies and forwarders do not prefer to complete export/import clearance. Exporters/Importers companies always make their own customs clearance by themselves using their authorized customs brokers in Turkey.

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