Frequently Asked Questions – Vermilion

1- CAN THE COST OF GOODS COME ON BEHALF OF THE MANUFACTURER?

No. As we stated in our contract, we specifically request that the cash payments be sent directly to the account of the exporter company Vermilion Foreign Trade Limited Company by the supplier. We request this in order not to keep our company and the companies we mediate under financial risk. When the cash price comes to our account, we have three options.

I.To return the amount by confirming with the manufacturer company

II.Requesting a correction message through the bank and receiving a message from the sender stating that the beneficial owner of the amount is the manufacturer.

III. To block a price (usually from VAT refund) in return for the cash amount until the export takes place.

2- IS IT MANDATORY TO MAKE A PURCHASE ON SOME OF THE GOODS PRICES?

COMMUNIQUÉ ON THE DECISION NO. 32 ON THE PROTECTION OF THE VALUE OF TURKISH CURRENCY (ABOUT EXPORT PRICES) (COMMUNIQUE NO: 32/48) and as of 04.09.2018, the date of publication of the communiqué, all of the goods costs of the exports for which the actual export has been realized are brought into the country and 80% of it is included in the Foreign Currency Purchase Certificate. binding condition. Failure to do so will result in a legal fine.

3- TO WHICH ACCOUNT WILL THE EXPORT GOODS FEES BE SENT?

The importer (abroad) must send the entire cost of the goods to the account of the exporter company.

4- HOW WILL WE CARRY OUT CUSTOMS WORKS IN DOMESTIC AND ABROAD?

We have a contract with the customs agency in the country. Required import and export documents will be prepared and informed by us for customs consultancy both at home and abroad. We also have contracted customs agents abroad. After the vehicle is on the road, the customs agency may require you to sign a contract for authorization. It is also necessary to activate the EORI number of the companies. When the vehicle approaches, the customs agency abroad will contact you and inform you to pay the tax again. The vehicle will be released after the tax payment is made.

5- WHAT IS THE CUSTOMS TAX RATE %?

In the receiving country, VAT is calculated at the rate determined for the product. In addition, the ratio of companies and individuals is different. In the European region, VAT is taken as a basis from 0% to 45% depending on the product type. The product must be sent to the state revenue administration by the BUYER as of its entry into the country. Even if it is 0%, you will have a minimum customs tax cost.

You can find out your tax rate from the link below by typing the GTIP and the country of origin.

https://ec.europa.eu/taxation_customs/dds2/taric/taric_consultation.jsp?callbackuri=CBU-36&Lang=en

6- IS THERE A TRANSPORTATION SERVICE? HOW MANY DAYS IS THE DELIVERY TIME?

Freight value is calculated based on the type of goods, kg, length or M3 and presented to you. After the offer is approved by you, the delivery to your address takes place within 7-10 days after the vehicle is loaded by the contracted transport company.