In order to complete the valuation sections of our compliance manual, I plan to interview our comptroller. Does anyone in the membership have a list of questions and/or suggestions on how best to approach this so I can get helpful information?
We are having circuit boards manufactured in China. We will be sending used custom built equipment for the manufacturing process. This equipment is a few years old. How should we value the equipment. Original cost minus what? We don’t think it would be fare to pay duty and 17% VAT on the original cost. Any […]
Does anyone have suggestions on how to determine value for temporary imported parts 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.”
AQZ Company acts on our behalf as both a buying agent and a consolidator. It isn’t a common practice for buying agents to source the product, accept payment for the goods from the importer and physically receive the goods for container loading from multiple suppliers on an Importers behalf. Also, AQZ Company is not an […]
What set up do you have for your stores to sell product to consumers without paying sales taxes if the product is going to be exported out of the country? I am particularly looking for this information for Florida – but would be interested in other states as well.
We are moving towards requiring our foreign vendors to maintain vendor managed inventory in the US. Thus, we may or may not be the Importer of Record. But in the case where we are the importer of record, title will not pass until we pull the product from the vendor managed inventory. Then the vendor […]
We are sending components into Mexico to be ware housed and used as Warranty replacements for our equipment. These components are used. In some cases they are returned components that have failed that we refurbish. Can I devalue these from our standard list price (new) and how do I do that? Our book value goes […]
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.
We have a purchase order which just shipped two months late. As a penalty to the vendor, the buyer negotiated a 25% reduction in the price of the goods. This was all negotiated prior to export. My question is this: Can I amend our letter of credit with the new negotiated price and only pay […]
Our products are sold in such a way that a sales person will discount certain items. At time they will discount an item 100%. So as an example a $500,000 deal could have a lien item that is discounted 100%. Original price is say $40,000. No here is the part that makes me nervous. When […]
Here’s the scenario A. Foreign parent company issues PO to it’s US manufacturing subsidiary to build a system at an intra-company price of US$8000. B. Parent company sells this system to a customer in a third country and receives a PO from this customer at the agreed up sales price of US$10000.00. The terms of […]
A company purchases products from an offshore supplier and imports into the U.S. Then re-distributes some of these products to global corporate sites (demos, spares, training, etc.) What is the group’s opinion regarding internal transfer pricing mark-up to be applied over the product’s initial acquisition cost ?
