Entrepreneur: Are you in Peru and need to import from China?, Does your company need products that are only available in China? or you are simply interested in bringing merchandise for your company at a good price. Well, here we introduce you to the steps and requirements to import from China to Peru.
China has become a major global supplier of various products, from video game consoles to toys. For entrepreneurs, China represents an opportunity to import merchandise.
If you want to start an import business, you should take into account some aspects such as: select products that are competitive in the local market, find out if they have any barriers to restrict their entry into the country, identify suppliers, consider the issue of storage and analyze if you will need a customs agency, among others.
What is the Import?
The import consists of bring merchandise to the national territory from abroad legally to use or trade them. With imports, the supply of the national market is completed and there is a greater variety of inputs, products or goods that are used for consumption, industry or services that are developed in our country.
Requirements for Import
Knowing how to import products is important and within them are certain documents that must be complete and current to avoid any delay or inconvenience.
So make sure you cover the requirements carefully; between the documents that the SUNAT will demand of you To carry out an import we have:
- Identity document of the importer.
- Proof of Payment of the imported good: invoices or bill of sale or another document of equal value issued by the seller.
- Transport Use Documents: bill of lading (maritime transport), air waybill (air transport) or consignment note (land transport).
- Other documents according to the nature of the office.
- Notarial Power of Attorney (for simplified clearance), when carried out by a third party on behalf of the importer.
Some imports may require more documents for importation, as they require special treatment.
In the case of being a Company that Matters
So that you or your company can import you should:
- Find yourself registered in the Single Taxpayer Registry;
- Find yourself enabled in said registry to carry out import activities
- Your fiscal domicile declared in your RUC must not be in the condition of Non-Have.
- Submit the necessary forms and documents to import merchandise.
This information can be very useful: «What are the Requirements to Get RUC»
The import of merchandise is subject to taxes
To determine the taxes to be paid for the importation of merchandise Two situations are considered:
- Identification of the National Sub-Party: SUNAT maintains a tariff classification registry, through which each type of merchandise is assigned a 10-digit code called «national subheading.»
Based on this code, the merchandise, the taxes and rates to be paid for its entry into the country and any tariff restrictions or benefits that it may have are identified. This code must be entered in the Customs Declaration of Merchandise (DAM) that is submitted to SUNAT to fully identify the merchandise brought from abroad.
In the event that the national subheading of the merchandise that you need to import is not located, you can request the corresponding precision from SUNAT.
- Merchandise Valuation: SUNAT carries out a process of valuation of merchandise that enters the national territory only for the purpose of granting them a value on which the amounts of the taxes levied on imports will be settled, taking as a reference the national subheading corresponding to the imported merchandise.
There are limitations on imports of some merchandise; These restrictions are imposed by the VOICE (Single Window for Foreign Trade), which is the entity in charge of granting or denying the resolution document (DR) to import the merchandise that falls into the categories of Restricted and Prohibited Merchandise.
It is so called Foreign Trade Single Window and its official definition for the restricted merchandise component can be found in SD N° 010-2010-MINCETUR, published in El Peruano on 07.09.2010;
yes we have that the VUCE is the means by which «allows the companies to carry out, by electronic means, the procedures required to obtain permits, certifications, licenses and other authorizations required for the entry, transit or exit of goods».
The objective of the VUCE is to dispense with physical documentation, which will be determined in construction stages due to the complexity of its implementation.
The resolution document (DR) is the one in which the administrative act is recorded issued by the competent entities, through which permissions are granted or deniedrecords, certifications, licenses and other authorizations requested by the administrations for the entry, transit or exit of restricted merchandise.
This resolution document, issued through the VUCE, has the same validity and legal effectiveness as that carried out by conventional means.
DIGESA is currently the only entity that admits the dispatch with a file in process, calling itself in the VUCE as Single Request for Foreign Trade (SUCE).
In a transitory stage, it is necessary that the DR or SUCE may be presented to dispatch still in physical form, presented as an impression of the same VUCE, where the customs official will corroborate the pertinent information in the VUCE.
Steps to perform Import
Take into account the following aspects:
Define your Product
Look for innovative products so that you can differentiate yourself from your competition. Check if the product you have chosen is duty free, and if it is subject to any special regulations.
Prepare an Investment Plan
Determine the estimated cost of your product, project the profit you would obtain, determine the cash flow and the payment projection.
To prepare this plan, it must be taken into account that the goods to be imported may be subject to a tariff; Rights antidumping, depending on the product or country of origin, the IGV; Municipal Promotion Tax; Selective Consumption Tax, whose rates are variable, among other rights.
Find a Provider
A Chinese provider is not chosen because it has a spectacular website or because it responded to you first. It is recommended to select suppliers with a minimum experience of five years in the market.
In addition, it is advisable to ask your supplier for references about business with other importers in the country or region. It is best to never make payments on personal accounts.
Ask your supplier for quality certifications, as well as the exporter’s license record.
If you already have a supplier, the next step is to choose the cargo and customs agents. The first is in charge of shipping, consolidating and unconsolidating the cargo, in addition to transporting it, while the customs agent represents the importer before the country’s customs.
When buying products in China, there are two ways in which the merchandise can be brought to Latin America: by ship or by plane. Depending on the weight and size of the products, one method may be cheaper than the other. Below is what each one consists of.
To the customs formalities that the importer must carry out, for the entry of their merchandise into the country, taking into account that the value FOB (1) must not exceed US$2,000 (two thousand US dollars) and that they must not have commercial purposes, or these purposes are not significant for the country’s economy.
- Import Modality for Consumption: in which the entry of merchandise from abroad is authorized in order to be definitively consumed in Peruvian territory.
This is considered nationalized after having presented the corresponding documentation and having paid the customs duties for the type of product to be imported.
- Modality of Reimportation in the same State: This modality allows the merchandise that enters the territory of origin to do so without the payment of tariffs and also no other type of additional charge.
It is also done under the condition that said merchandise has been returned from the destination country to which it was exported and also that it has not been subject to any type of modification while it was in the destination country.
This import modality is applied mainly when there are shipments of merchandise that have not passed the quality or sanitary controls of the country to which it was sent, in order to contribute to the sustainability of the business of its exporters.
- Modality of Temporary Admission for Re-export in the same State: This modality allows the entry of merchandise temporarily without the payment of tariffs and other customs taxes, with the condition that the merchandise is sent to its country of origin once the purpose of its mobilization has been fulfilled.
Likewise, its entry into the country of destination is subject to a specific use and static location where it will fulfill a fixed purpose. The maximum permissible stay in this modality is about 18 months, with a maximum extension of 6 months in case it requires unpacking for export.
At the time of entering this merchandise, a refundable guarantee must be made effective after having fulfilled the function of its admission within the terms declared in customs, failure to comply with any of these terms would also be grounds for collection of said guarantee.
Is when the goods have been nationalized under total or partial exoneration of rights and customs taxes, limiting its use or consumption to the person favored with the franchise, its introduction into special customs territory or the fulfillment of a specific destination.
Peru has special regimes or modalities such as Customs Deposit, Temporary Admission and Temporary Internment
In addition to the Modalities (regimes) already mentioned in Peru, there are the so-called «special cases», which could also be considered secondary modalities to import into Peru, which we will explain below:
- Samples without Commercial Value: Products that are intended to show their qualities to a potential buyer and have no commercial value, therefore they cannot be marketed.
- Urgent Shipments: applicable to merchandise that due to its nature has an urgent need to receive special treatment, examples of the case, could be human organs, emergency medicines or highly perishable products.
- Relief Shipments: shipments that are applicable after the occurrence of events that generate emergencies such as natural disasters, large-scale fires, epidemics, etc.
- shipments Postcards: applicable to any type of shipment that makes use of the postal service, that does not exceed more than 4 universities of the same product per shipment and that does not exceed $2000 as a combined commercial value.
- Postal shipments for Embassies: It is carried out in the cases of transfer of bags for diplomatic use, containing official documentation and that clearly states its character on the outside of the package.
- Merchandise for the Diplomatic Corps and International Organizations: demandable by officials of the diplomatic corps abroad, who may enter merchandise that is of a personal nature without the payment of certain customs taxes.
- Postal Shipments with Value not greater than $1000: applicable to the sending of postal packages to the same addressee from abroad, said shipments must not exceed $1000 in one year.
- Special Vehicles and Prostheses for Disabled Use: demandable by people who are in these conditions and who need to import objects of this type for their personal use. The CIF value of the merchandise must not exceed “10,000 and you will only be exempted from tariffs but not from IGV, ISC and IPM.
This article may interest you: «Steps and Requirements to export from Peru»
With all this information you should already be prepared to grow your company; the Steps and Requirements to Import from China to Peru, They will help you take it to another level.
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