import value

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How Do You Prove Transaction Value?

May 22, 2014 Trade Translation import value, Jim Trubits, transaction value, U.S. importers

Determining the price actually paid or payable for your Customs entry can be quite tricky. Transaction Value rules, pursuant to 19 USC 1401a(b), place responsibility on the importer to exercise reasonable care and accurately provide Customs and Border Protection (CBP) with the proper declared value. It’s important to assure that all lawfully mandated payments (additions)…

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Import Compliance and Customs Assists: What’s the Real Cost?

May 23, 2011 Trade Translation assists, Customs, duty, import, import value, importers, Jim Trubits, lump sum value, mohawk global trade advisors, mold manufacturing, U.S. Customs, U.S. importers

Many of our clients produce molds as part of their manufacturing process. Did you know? US Customs requires that importers not only pay duty on the physical product, but also pay duty on “assists” that aided in the production of that product. According to US Customs, these listed assists should be reported as part of…

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