Scenario: We are importing goods from a foreign company who is owned by a legal entity in the US. In the past the foreign company provided commercial documents to us for importation into the US. Our broker used these documents to make entry. We recently discovered that we were paying the US entity […]
Can the membership please advise on the correct valuation to use for the following scenario: We are a U.S. Company who sells food product to our Canadian Company (there is an intercompany sale) but product is shipped directly to the Canadian customer who is invoiced by our Canadian Company. On the Canadian invoice we declare […]
Can the membership please advise on the correct valuation to use for the following scenario: We are a U.S. Company who sells food product to our Canadian Company (there is an intercompany sale) but product is shipped directly to the Canadian customer who is invoiced by our Canadian Company. On the Canadian invoice we declare […]
Question: Where do I start learning about it? If it has been used on existing transactions, how do I audit the transactions? Do you have a checklist for needed items when setting using first sale with your import? ==========
Question: We are importing special temperature reading monitors to use to monitor temperature of our exports. The specialized temp monitors are purchased by our foreign parent from an unrelated 3rd party overseas. Upon receipt of an order, the 3rd party ships the temp monitors directly from inventory already purchased by our parent. […]
Question: Greetings Everyone. I have just recently joined ICPA and have been enjoying the wealth of information it affords. I know that Customs (CBP) has ruled that price tags and hang tags affixed to merchandise prior to its exportation to the U.S., is considered packing costs and should be included in the dutiable value […]
QUESTION: Scenario: US parent company purchases hardware and/or software in the U.S. to be used in its foreign subsidiary offices for normal business purposes (not manufacturing of items). How would the hardware/software be valued for export purposes? Does it depend on if the parent company will be selling to the subsidiary? Can it […]
Question: Would any of the members have a copy of TD 96-87 to share ? ========== Here you go. ==========
Question: A customer sent a repair with an understated value on it, it cleared off the manifest and correction request has been sent to the carrier. The repair was done and the customer now wants us to put the understated value in the body of our Commercial Invoice used for export back to them along […]
Question: Does anyone know where I can find examples of penalties for improper valuation of related party transactions? I am trying to convince Finance that we need to examine our Transfer Pricing Policy based on the CBP requirements, but they think that their income tax study is enough (I’ve already shown them the CBP publication […]
Question: Does anyone know where I can find examples of penalties for improper valuation of related party transactions? I am trying to convince Finance that we need to examine our Transfer Pricing Policy based on the CBP requirements, but they think that their income tax study is enough (I’ve already shown them the CBP publication […]
Question: oes anyone know where I can find examples of penalties for improper valuation of related party transactions? I am trying to convince Finance that we need to examine our Transfer Pricing Policy based on the CBP requirements, but they think that their income tax study is enough (I’ve already shown them the CBP publication […]
