“International Duties and Taxes Made Easy” on The Savvy Shipper
For many online businesses, international shipping can be tricky with unknown regulations, prohibitions, and restrictions. But with the right knowledge, expanding those boundaries can increase your business' revenues and provide a source of income that isn't directly tied to your home economy.
So what do you need to understand before you take the leap?
For one thing, many foreign governments collect taxes and duties on products entering their countries. There are two main classifications for tax and duty collection: Delivered Duty Unpaid (DDU) and Delivered Duty Paid (DDP).