US Customs and Border Protection (CBP) has intensified its enforcement of the “first sale” valuation method, emphasizing rigorous adherence to established criteria. The “first sale” principle allows importers involved in…
…Valuation Agreement, as implemented in 19 U.S.C. 1401a. Thus, the value of the steel/aluminum content is the total price paid or payable for that content, which is the total payment…
…Protection (CBP), expect importers and exporters to exercise reasonable care when engaging in cross-border trade. This means ensuring that goods are classified correctly under the Harmonized Tariff Schedule (HTS), meeting valuation requirements,…
…party would be performing customs business. What is Customs Business? Customs business comprises those activities involving transactions with CBP concerning the entry and admissibility of merchandise, its classification, and valuation,…
…Valuation Does your import use the correct valuation to ensure the correct payment of duties and taxes on the goods? Apparel (Round 4) – Harmonized System Number(s): Chapters 61 and…
UPDATE: 6/26/2023— The original 30-day consultation period to provide comments on the proposed amendments to the Valuation for Duty Regulations has been extended to July 26, 2023. The Canada Border…
…importance of conducting continued reviews of first sale transactions to ensure compliance and avoid potential challenges with CBP. For more information on any valuation issue and recommended maintenance reviews, reach…
…one of the other methods of valuation, applied in sequential order, as part of their Reasonable Care. U.S. Customs and Border Protection’s (CBP) Informed Compliance Publication on Customs Value, has…
The Court of International Trade (CIT) has issued a decision that the ability to use first sale valuation may not be applicable to transactions involving non-market economies, including China. First…
…Declaring Higher Value to Third Parties. Third parties to whom the goods are entrusted may limit liability for loss or damage; the Company will request excess valuation coverage only upon…
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