Import and export laws are a combination of various international as well as national laws that are used to control cross border trade of products and services. Different countries impose different import and export laws and regulations that are designed to protect their economic situation and their environment as well as human health.
Considering international trade involves regulations imposed by so many different countries, it is far more challenging than any domestic or national business operation. Some of the complexities encountered in international trade include issues of legality, documentation, licensing, finance, property rights, governmental regulations and communication. As the emphasis on awareness of terrorism keeps increasing, it is equally important to keep up-to-date with ever-changing new laws as and when they are enacted.
A formal declaration is required for any trade that exceeds the stipulated limit, which is different in different countries. Wrongful declarations of true value and weight of the goods so as to attract a lower duty value is considered illegal and the trader's international trading privileges could be revoked or suspended.
Contravention of import and export laws, whether knowingly or unknowingly is a serious offense and is likely to attract a penalty, which could include imprisonment in most countries. Serious transgressions include trading in drugs, endangered wild life species, toxic substances and hazardous materials.
Source : articlesbase
No comments:
Post a Comment