The leading provider in the beauty sector has decided for MIC’s software solutions to boost their worldwide Customs & Trade Compliance processes! It employs over 80,000 people in more than 150 countries globally.
The roll-out of MIC’ software solutions at the French personal care company is covering the following modules and countries:
- MIC CCS | CTC for France, US, CN, JP, ID: MIC‘s Central Classification System (CCS) increases the automation level in determining correct customs tariff classifications for products through intelligent algorithms. The module stores, classifies and validates products according to national customs tariffs. Furthermore, customs tariff content for each country is regularly updated automatically in MIC CCS through MICs Global Trade Content Service (GTCS).
- MIC OCS | CALC for EU, US, APAC: MIC's Origin Calculation System (MIC OCS) facilitates the calculation of the origin of goods and allows the cosmetics company the management of free trade agreements (FTAs). It supports in the management of several FTAs and includes for instance a bundle of EU agreements, USMCA, KORUS or ASEAN enabling potential duty savings.
- MIC CUST® Import & Export for France & US: The MIC Customs Clearance Solution enables the automated creation of customs import and export declarations and allows the direct electronic data exchange with the French customs administration's system Delta-G and the US AES / ACE system of CBP.
- MIC CUST® IPR for France, US FTZ & Duty Drawback: Special customs regimes will also be implemented at the French personal care company. Inward Processing Relief (IPR) provides the possibility to import and process goods in France under duty suspension. The US Foreign Trade Zone (FTZ) solution ensures that the cosmetics company can avoid US import duties if goods that enter the FTZ are stored, sorted, tested, repackaged, and assembled within the FTZ, then exported without ever entering the US commerce. And finally, the US Duty Drawback module enables the refund of duties, related taxes and fees collected upon the importation of goods and refunded when the merchandise is exported or destroyed.
The project started in March 2022 and the go-live of the MIC modules is scheduled for mid-2023. The integration of MIC’s software solutions allows the leading provider of beauty products to increase compliance with the legal requirements, boost customs processes and consequently leads to savings in time and money. We are looking forward to a fruitful partnership with the French personal care company!
MIC is the world leader in providing global customs and trade compliance software solutions. The MIC group currently employs 450+ professionals around the world. More than 800 international customers rely on MIC software products for their global customs and trade compliance management solutions.
For more information about MIC and how we could help your operations, please contact us via [email protected].