Global trade has changed significantly in a post-COVID world. There are still opportunities for companies to import and export, but they largely exist against a changed landscape.
The fragility of supply chains has revised the focus for many countries with the bolstering of their own onshore capabilities, new trade relationships have been established, international strategies diversified, even whole new markets discovered.
Businesses must take a whole-of-world view of their operations, trade and logistics in this new landscape to see real efficiencies and cost-savings.
For businesses importing and exporting, the impact of global trade agreements and the customs requirements in each jurisdiction can be complex and even overlapping at times. We regularly see businesses incur significant costs and penalties due to incorrect tariff classifications or the wrong application of obligations and compliance.
The global trade team at Grant Thornton helps our clients establish the right strategies to streamline the movement of their goods, ensuring time and cost efficiencies, with all compliance obligations fulfilled, and a focus on your future international plans.
Our team understands the full spectrum of global tariffs and can find efficiencies and opportunities for businesses to decrease the cost of sending their products offshore – while minimising the risk of penalties or detainment of goods. We can run due diligence on your global goals, supply chain and transactions to understand the transfer pricing and other tariff implications so you can make informed decisions.
How we help
- Optimising trade tariffs and compliance obligations
- Reviews customs and duties along your supply chain
- Accessing global accreditation
- A country-by-country approach to your global trade profile: including transfer pricing, royalties, service and license fees
Australian Trusted Trade program – helping to access accreditation
The Australian Trusted Trade program – or the ATT – is part of an internationally recognised network of Authorized Economic Operator programs, governed by the World Customs Organization, which operates in more than 95 countries. The program aims to reinforce the cooperation between industry and government, by strengthening supply chain security and facilitating legitimate trade.
ATT provides accredited businesses with a competitive edge, along with dedicated support from the Australian Government. It also offers a range of trade facilitation benefits to accredited Trusted Traders.
Our team supports clients through the complex ATT accreditation process. This accreditation means you gain mutual recognition with other member countries and can mean priority treatment and streamlined processing of your goods.
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