Want to show duties and taxes on your checkout with Total Landed Cost? Then EDT will do just that.
Having gotten your products classified with Harmonized System (HS) codes, to either the HS6 or FQ levels, you can begin selling them to overseas buyers. The HS6 or FQ codes will be used by the landed cost calculator to show the duties & taxes on your online store’s checkout.
Why use a landed cost calculator? Landed cost calculators allow you to calculate, upfront, the total costs associated with shipping goods from one country and importing them into another. The best landed cost calculators take into consideration: the cost of the goods; end-to-end shipping charges; factor in import duties and taxes of the destination country by using the HS6 or FQ codes; account for free-trade agreements and de minimis rules etc. and show the total landed cost to the buyer on the checkout. The buyer can then make an informed buying decision, rather than being surprised by import delays and unpleasant duty and tax demands, which creates buyers’ remorse and resistance to buy again.
Another reason for using a landed cost calculator is that as a seller, you get to provide Delivery and Duty Paid (DDP) delivery terms or incoterms, which means to you that shipping overseas just got as easy as shipping domestic. How? Since you’ve pre-calculated the duties and taxes, and collected the cost of the goods, shipping charges and duties & taxes, upfront from the buyer, you simply print the dispatch label with DDP marked on the label. This tells the logistic carrier that you (the sender of the goods) will pay the duties and taxes too, in which case, the carrier simply deliver the goods to the buyer, and clear customs on your behalf. Later the carrier bill you for the shipping and duties & taxes, which you’d pre-collected from the buyer anyway. You as the seller don’t then need to do anything relating to customs declarations etc., because the carrier has already done this for you under the DDP delivery term. As a result, going global just got as easy as domestic trading.
Why use the EdgeTariff Estimate Duties & Taxes (EDT) calculator? Well, EdgeTariff uses the best-in-class duty & tax calculation data for over 200 countries to provide the most accurate duties & taxes on your checkout, showing your buyers the total landed cost. Why’s it an estimate if it’s that accurate? Because currency fluctuation and transport packaging may vary the final landed cost, however, you’ll still get class-leading (>98%) accuracy.