A Practical Guide from Start-up to Global Success
Chapter 22: Taxation and logistics
Taxation is a hugely important topic for any business like the fashion industry which works on an international basis. This chapter introduces some of the legal issues to be aware of, such as the different approaches taken by customs to valuing products for import tax and an introduction to the EU Customs Union. It also looks at the legal and PR consequences of failing to comply with tax obligations. It introduces important legal concepts for shipping goods such as incoterms which determine when ownership of goods pass (and consequently when responsibility for the goods is transferred). This can be very important from an IP perspective in terms of whether importing has occurred as well as in terms of who is responsible for insuring the goods in case something happens to them en route.
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