Question: We cut a PO for $14,020 to our German supplier.They ship (export) the products along with an invoice for EUR 8,836 onMay 12, 2008 (exchange rate is = $13,685. Our Accounts Payable pays our supplier using the Euro invoice at a laterdate and actually pays $14,128.56. For compliance purposes, should we pay the amount […]
Question:At George Tuttle’s valuation seminar in October, he mentioned that hot lot/expedite fees are valid additions to transaction value. Does anyone have a ruling reference to support this? Can’t find anything in CROSS.
We have a parts depot in the U.S. where customers can send their broken items and they are repaired or replaced. Usually the good (new or refurbished) item is sent in advance. (Most of these shipments are going to Canada, Australia, or the UK.) Then the bad item comes in, gets repaired or refurbished on […]
I am having a continuing problem with various entities sending engineering samples, parts, etc. with arbitrary values declared (example: $1.00). Our broker catches these and contacts us prior to making entry. I then contact the shipper and explain to them the need for proper valuation. I have explained the proper methodology for valuation if these are […]
Can anyone advise what valuation method they use when importing into other countries, refurbished products used for warranty replacement? Do you differentiate if a new product is sent as a warranty replacement as opposed to a refurbished product?
Question:Improper folding instructions from our company for a multi-piece garmentcaused one of the pieces to become damaged. As a result the vendor willremake the item. The costs of replacing the item are being sharedequally between our company and the vendor. The vendor has issued adebit note for our share of the fabric replacement, reopening the […]
Question:Improper folding instructions from our company for a multi-piece garmentcaused one of the pieces to become damaged. As a result the vendor willremake the item. The costs of replacing the item are being sharedequally between our company and the vendor. The vendor has issued adebit note for our share of the fabric replacement, reopening the […]
My customer imports wire. He negotiated a very favorable price. The Indonesian shipper told my customer that if they exported this wire to the US at that price, it would set off flags with US Customs. My customer called me and asked if I knew where the tolerance on the price of commodities used by […]
We are trying to determine our own corporate derived methodology to determine the proper Customs valuation of imported items being returned for repair and of imported items being returned for replacement. The value methodology must be based on GAAP, not prohibited by law, supportable by documentation, and used consistently for imports. Does anyone have suggestions […]
Can someone explain when foreign inland freight is dutiable and not dutiable? Does it matter if the goods are traveling on a through bill of lading from the vendor’s door to destination or if not traveling on a through bill? We, as importers, are paying the foreign inland charges.
My company is the broker on a load of material going from Jordan to China. The consumer has paid an advance against the material and will pay the balance when the documents are available. They have requested we provide them with an invoice showing only the reduced price. Others in my company think we should […]
What is the appropriate price for raw materials procured domestically and subsequently sold to a related party abroad? Standard cost or Transfer Price? Are sales at standard cost considered an assist because of the lack of mark-up? All products manufactured abroad are sold to related parties.
