Q. 11
Q. Do I have to register a business and provide a Tax ID in order to import.
A. The short answer is: NO, but read on, because I add a very valuable hint further down.
In almost every country, when you first import anything commercially, if the value is sufficient to have to pay Duty and/or Sales Tax, you will be issued with an importer number. It goes by different names in different countries, but it is an identifying number that allows Customs authorities to keep track of what you import, when, and the values.
It also makes it faster to lodge customs clearance documentation in future.
If your first import is handled by an air courier or a freight forwarder, they will automatically obtain an importer’s number for you. It is worth asking them to tell you that number for future reference. They will not volunteer it.
If an importer later registers a business and imports under that name rather than his own name, a new importer number will be issued. There is no requirement for the importer to cancel the old number.
This last fact is worth remembering should you ever make a mistake and foul your reputation with Customs. You can change your business name and address, and then your old importer’s number will not be matched to your subsequent imports. In effect you will have a clean slate.
TOPIC HEADINGS PREVIOUSLY POSTED IN THIS THREAD:
■ Introduction. Dealing with myths and misinformation.
■ Some things you should know or do before you start product sourcing.
■ Part 1. Traveling to source supplies. Do you need to visit China? Trade Fairs.
■ The difference between Alibaba and Aliexpress.
■ Alibaba and the 2236 Thieves.
■ Sourcing from countries other than China. Is it worth it?
■ Part 2. Traveling to source supplies. Visiting factories in China.
■ Parallel Imports USA.
■ Do your suppliers use child labor or slave labor?
■ Inspection Services.
■ Sourcing Agents and Quality Control.
■ Misinformation Is A Wealth Hazard.
■ B2B Scams
■ Q & A 1,2,3,4,5,6,7,8,9,10
Q. Do I have to register a business and provide a Tax ID in order to import.
A. The short answer is: NO, but read on, because I add a very valuable hint further down.
In almost every country, when you first import anything commercially, if the value is sufficient to have to pay Duty and/or Sales Tax, you will be issued with an importer number. It goes by different names in different countries, but it is an identifying number that allows Customs authorities to keep track of what you import, when, and the values.
It also makes it faster to lodge customs clearance documentation in future.
If your first import is handled by an air courier or a freight forwarder, they will automatically obtain an importer’s number for you. It is worth asking them to tell you that number for future reference. They will not volunteer it.
If an importer later registers a business and imports under that name rather than his own name, a new importer number will be issued. There is no requirement for the importer to cancel the old number.
This last fact is worth remembering should you ever make a mistake and foul your reputation with Customs. You can change your business name and address, and then your old importer’s number will not be matched to your subsequent imports. In effect you will have a clean slate.
TOPIC HEADINGS PREVIOUSLY POSTED IN THIS THREAD:
■ Introduction. Dealing with myths and misinformation.
■ Some things you should know or do before you start product sourcing.
■ Part 1. Traveling to source supplies. Do you need to visit China? Trade Fairs.
■ The difference between Alibaba and Aliexpress.
■ Alibaba and the 2236 Thieves.
■ Sourcing from countries other than China. Is it worth it?
■ Part 2. Traveling to source supplies. Visiting factories in China.
■ Parallel Imports USA.
■ Do your suppliers use child labor or slave labor?
■ Inspection Services.
■ Sourcing Agents and Quality Control.
■ Misinformation Is A Wealth Hazard.
■ B2B Scams
■ Q & A 1,2,3,4,5,6,7,8,9,10
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
juqigammz vu ewuof ov, civvis gus ni vu tvesv pux (fu simevouptjoq caomfoph epf catopitt tvsevihz).
