Eurora™ Intelligent Cross Border Compliance Platform
Eurora™ provides compliance solutions to the upcoming regulatory challenges on cross border trade. From HS Code Allocation, Electronic Declarations to Duty & Tax Calculations and Label & Tracking, Eurora™ Intelligent Cross Border Compliance Platform delivers critical services to customs, carriers and the marketplaces.
Challenges
Various unavoidable challenges face the cross border trade. Starting with US Stop Act, implemented as of 01.01.2021, the Act requires full advance electronic data entry on all mail parcels entering the US, including HS 6 code, accurate product description, value and sender/receiver details.
The ICS2 will challenge postal operators with them no longer being exempt from having to make entry summary declarations into the Import Control System before moving goods into or through EU customs territory. Meaning that shipments without the right data will no longer be allowed with the likelihood of severe delays in customs and increased costs.
The EU Import One Stop Shop (IOSS) makes the retailer, web shop or marketplace liable for the declaration and payment of VAT to the country of destination. In addition, the abolition of exemption of VAT on low value items under EUR 22.- will mean that EU and non-EU sellers will charge VAT at the point of sale for consignments of EUR 150.- or below.
The UK import VAT change regulations will make an overseas supplier who sends parcels containing goods valued at £135 or less to the UK responsible for paying any import VAT that is due.
Solutions
Eurora™ Intelligent Cross Border Compliance Platform addresses all of the regulatory issues with a holistic and comprehenesive approach. Our platform will assign the correct HS 6 code, improve product descriptions and in case a HS code is provided it will verify if this is indeed the correct code for the matching description, helping to avoid delays and increased customs clearance costs.
Also, Eurora™ enables the ability to calculate the duty and taxes at point of purchase, improve the HS codes and product descriptions, and offers an unique electronic declaration service together with fiscal representation.
More information on our services under the Solution and Benefits section.