Speaking in Lagos last week, Principal Consultant/CEO of ITASL Mr. Okey Ibeke, decried the extra expenses Nigerian importers pay in the course of clearing their goods due to ignorance and willful trade malpractices.
He counseled those engaged in international trade to consult international trade experts for expert advice on how to go about their business seamlessly and with greater profitability.
According to Ibeke using the services of trade experts such as ITASL will enable importers and exporters avoid over-payment of duties and charges.
“There is no room for error in the Customs and compliance arena. That’s why International Trade Advisory creates values that are based on efficiency to help our clients avoid bottlenecks, compliance hurdles and other legal ramifications stemming from unintended trade infractions,” he stated.
He said many companies or importers are not aware that they can recover excess duty paid on imported goods, and the customs agencies capitalize on their ignorance to continue to exploit them.
According to him, ITASL parades experts with
At the conference which was meant to formally unveil the innovative company, Ibeke observed that changes in world trade are posing challenges, trade deals are made and reviewed, tariffs are imposed, regulatory and customs processes are fast changing, while regional trade agreements come with their complexities. All these could be overwhelming for importers and exporters.
He said ITASL with its team of experts can handle all the international trade complexities so that client companies can have seamless and profitable transactions.
He noted that Nigerian importers, exporters, corporate organizations and manufacturers encounter a lot of conflicts and difficulties in the interpretation of import and export regulations, he said ITASL was established to help them resolve such conflicts, advise and guide them on how to comply with customs laws both in Nigeria and other jurisdictions.
Ibeke stated: “International Trade Advisory Services Limited consultants apply appropriate procedures to determine the proper harmonized tariff classification on imports and exports and provide a complete audit trail to support classification claims.
“We offer free consultation to determine if the possibility of duty recovery exists. If there is potential for duty, tax or fee recovery, we work with our client to determine the approximate amount and which methodology should be used to maximize claims.
“Each draw back claim involves a very detailed analysis of the client’s imports and exports and the collection of supporting documentation, all within complex legislation and strict regulation, apart from and program set up fee, there is no upfront cost to our clients till the duty is no upfront cost to our clients till the duty is recovered.”
He said that the company’s recovery specialists analyze and review import transactions and duty paid by its clients to find opportunities for recovery.
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