Major multi-national autoparts producer relies on MIC’s customs and trade compliance software solutions

News | Customs Filing | Origin Calculation 20 December 2018

MIC is the leading provider for customs and trade compliance software solutions for the automotive industry. Thus, MIC is especially pleased that in 2017 the world’s fourth-largest automotive supplier decided to implement MIC’s customs and trade compliance software solutions.

Since then, multiple projects are underway and in May 2018 the first module for preferential origin calculation (MIC OCS) was rolled out:

  • MIC OCS ensures the optimized calculation of the origin of goods (CALC) as well as an efficient and automated management of supplier declarations (SCS) using MIC’s innovative supplier web portal. MIC OCS provides the necessary tools for the improved management of free trade agreements ensuring full regulatory compliance.

MIC’s software solution is fully integrated with the customer’s SAP environment. The application facilitates eligibility determination for preferential origin of the goods and management of supplier declarations, thereby contributing to both cost optimization and increased competitiveness.

Currently, the team is working on several other roll outs of MIC’s software solutions:

  • The customer aims to implement MIC’s software for the management of the Foreign Trade Zone (MIC-CUST® FTZ) program in the US. When admitting the goods into the FTZ, no customs duties or other indirect taxes are levied if the goods are then re-exported. This deferral combined with potential inverted tariff benefits enable considerable savings potential in duties & taxes, as well as cash flow optimization. With automated and legally compliant processes, MIC-CUST® US FTZ supports the realization of these benefits and ensures them over the long term.
  • In preparation for a possible hard Brexit in March 2019, the MIC-CUST® Import & Export project for the Czech Republic and Great Britain is currently an important focus. In addition to generating the required import and export declarations, MIC-CUST® also enables automatic tax and levy calculations, quota and license checks and calculation of the customs value. In addition, the introduction of MIC-CUST® Export to prepare automated export customs declarations is planned for both Slovakia and Portugal.

MIC is pleased to partner with the automotive industry’s fourth largest supplier to ensure their continued success around the globe!

About MIC:

MIC is the world leader in providing global customs and trade compliance software solutions. The MIC group currently employs over 330 professionals around the world. More than 700 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]