I think we need to use the Deductive Value for the following import. We export a item which is a mixture in various percentages of virgin and reclaimed materials to an unrelated party. When the customer is done with the process they scrap up the unused material and we import the unused leftovers from the […]
Does anybody have examples of how they are effectively able to support the deduction of Freight or Insurance on a Customs Entry? Since Customs requires that the actual price paid at origin be declared – see below – (and Customs Auditors verify this via a copy of the wire or a copy of a cancelled […]
We have a substantial number import transactions with related parties. We have transfer pricing documentation for tax purposes, but not for Customs. Does anyone already have a transfer pricing document for Customs? If so, what values are you using for your import entries, and what basis are you using to support those values?
Items are imported from foreign manufacturers of the same country through a Buying Agency agreement. A single item code “can” be sourced from multiple manufacturers in the same country with different prices. Buying Agent has a facility in China where items can be consolidated into a single shipment. Identical items from different manufacturers are comingled. […]
I would like the membership’s thoughts on an internal debate we have going on. When feasible, we utlize 9802 groupings on goods returning after repair. Unfortunately, on certain items, we cannot and so classify under the actual classification however, the question is what value to declare in these instances. One opinion is that we show […]
I need urgent replies from our membership concerning valuation of obsolete product. Our company has closed a part of our business and sold the rights to the machine model, assembly to a company in “the far east”. This company is a current distributor to my company, headquartered in the US. My company is selling all […]
For those members that have a Landed Cost Model for product imported, I would like to ask if you mind sharing what ?cost buckets? make up your landed model (ocean freight, port fees, commission, inland freight, etc). I?m not looking for dollars, just fee categories.
Has anyone been through a focus accessment that CBP found the price paid is different than price declared due to exchange rate deviation? The bank that pays our vendor uses the daily bank rate for net 60days, the exchange rate is always different than the Customs quarterly or daily rate used at time of entry. […]
We have a company that manufactures finished goods for us. A part of the finished good is to be sourced from a second manufacturer. The purchasing people do not want the manufacturing company to see the price of the part, so they are having the part manufacturer put a price that is higher on the […]
I understand that all charges related to imported merchandise (or words to that effect) must be declared on the entry summary, whether they are dutiable or not. This is where the NDC field comes into play. Has anyone ever seen an actual penalty situation where the NDC’s are incorrectly declared on an entry?
My company has recently switched to the Transactional Net Margin Method (TNMM) for inter-company transfer pricing. Does US Customs have an issue with this methodology? I was told the study was conducted to be in compliance with both the OECD guidelines and the US 482 rules. I’m having difficulty finding US 482 rules in order […]
QUESTION: RE: Canadian Royalty Payments Do you have any insight as to how the WCO interpretation of the dutiable treatment of royalty payments may impact Canadian valuation laws? What becomes of the Canada vs. Mattel decision once the WCO position is formally documented in April of 2008?
