Question: When we have an item (which we originally exported to our foreign customer) returned to us in the USA for repair/return/replacement (whether under warranty or paid), what value do we declare on the import? The amount the customer originally paid (which may be hard to determine), the amount we would sell the same part […]
Question: A question from a US exporter regarding exports of demonstration products. From what I’ve read in the answer archives, we need to ship demonstration products (from the US to non-US customers) with a commercial invoice that lists a value for the demonstration product even if we don’t plan on asking the customer to pay […]
Question: Lets say I have a middleman in the U.K. who purchases 1000 widgets from China which are shipped to him in the U.K. Some of the widgets are then sent to the U.S., some to France, and some to Canada to be sold at retail. The U.S. retail price is the price declared on the […]
Question: Ruling 544815 is cited three times in CBP’s Value Encyclopedia, but not available in CROSS. Can anybody provide a copy? ========== Answer: Please find the ruling within the attached link. Be careful when dealing with assists in this area….very fact specific and sometimes complex! http://www.icpainc.org/wp-content/uploads/2014/10/H544815-1.pdf ==========
Question: We source certain insulated jackets from China, and direct our factory in China to source the insulation from our designated supplier in the U.S. Normally, the factory in china purchases the insulation directly from the U.S. supplier and rolls up the cost of the insulation in our FOB price on the finished jacket. In […]
Question: Our tax department self-assesses and accrues state use tax on purchase orders placed on vendors for material not included in the Cost of Goods Sold (COGS). Is this state use tax considered part of the price paid or payable? ========== Addl Answers: It is not clear, why an importer would ever be paying use […]
Question: So I have several employees from our Company that carry samples & proto-types back from China. Based on the value what is the process that I should be using to file the entries. I need to create an SOP so that I can educate our employees on procedures that have to be followed ========== […]
Question: I have an inquiry regarding value reporting in AES. If a US manufacturer(USPPI) sales to a foreign entity in country X(FPPI), and the goods are consigned to a third unrelated party in country Y (Ultimate consignee), what value is to be reported on for AES purpose? The manufacturer(USPPI) selling price or the FPPI selling […]
Question: Our tax department self-assesses and accrues state use tax on purchase orders placed on vendors for material not included in the Cost of Goods Sold (COGS). Is this state use tax considered part of the price paid or payable? ========== yes
Question: Scenario Customer in country A places an order on our customer Our customer, who resides in country B places an order on our company Our company, in country C produces the product and is asked to ship directly to country A Question – what is the valuation that should be shown on the shipping […]
Question: I would like to ask the ICPA members what the best practice is for customs valuation of assets that are fully depreciated, especially between related party companies cross border. Would it be fair market value? If it is fair market value, what if the book value is less or more than the fair market […]
Question: I have a foreign office shipping some items back to our US office. The foreign office wants to put a certain value on these items (the same value that they were originally entered under). But the value after depreciation will be different in the US. Can a transaction have two commercial invoices? An […]
