QUESTION: With duty savings in mind, our finance team asked us if there was any way that the value of US origin components incorporated overseas into a finished product that is then imported into the USA could be deducted from the overall value of the imported item. The idea is that the duty rate is […]
QUESTION: We have new business of where we would consign parts to foreign supplier, who will then assemble and then ship/import to US to our company. In reviewing customs valuation / encyclopedia, is the correct valuation as follows? Cost of Components + Assembly Fee = Import Valuation For cost of components, this would be the price […]
QUESTION: We have imports on DAP (US warehouse location) which includes our contracted ocean rate built into the cost of the product. After reviewing the regulations and CBP’s ICP on freight deductions, I do not believe is it acceptable to use the contract’s rate because that may not be the actual cost of freight. Moreover, […]
QUESTION: Does anyone have experience with deducting the value of ‘core’ when importing automotive batteries, or similar items that contain core, using transactional value? If so, what type of documentation or information is required to support this type of deduction? =========================================================== ANSWERS: Quite the opposite…I have the experience of ADDING the core value to imported […]
QUESTION: I need to figure out the correct value for import of a replacement product under warranty. Company A imports the finished good from a related party, if the good turns out to be defective then under the warranty the related party sends them a replacement good. So it isn’t that they send out the […]
QUESTION: A parent company in the USA has a subsidiary in China that manufactures finished goods and ships them to the parent company. As the parties are related, the finished product includes a markup for profit. The subsidiary in China also provides the parent company with purchased parts to be used in the manufacturing process […]
OT Fact Sheet: Origin Certification Requirements QUESTION: Our company moves material from the US to Europe for storage at a local European Warehouse. From there we fulfill sales orders to various customers within the EU. The move is considered an intra-company move internally so no real sale is involved on the movement from US to […]
OT Fact Sheet: Origin Certification Requirements QUESTION: We will soon be importing a chemical library with no transactional value. These potentially will only be for sample evaluations for our internal labs. If we are not able to get to get the cost to produce these goods, and are not selling these goods, is there any […]
QUESTION: If we have entries flagged for recon the arrive with an overage of material, no change in value/unit, can that increased quantity and value be disclosed in recon? There is no change in duty or fees as items qualify for USMCA duty free. Or, do we need to file a PSC? ************** Answers:Depends what […]
QUESTION: We had some internal pricing confusion leading to a miscommunication on a customer quote. An accessory item was assumed to be included in the pricing, when it is not. Sales would like to offer it at a steep discount in this case (below our cost). If the discount is agreed to before the shipment, […]
QUESTION: If we have entries flagged for recon the arrive with an overage of material, no change in value/unit, can that increased quantity and value be disclosed in recon? There is no change in duty or fees as items qualify for USMCA duty free. Or, do we need to file a PSC? ************** Answers:Depends what […]
QUESTION:We had some internal pricing confusion leading to a miscommunication on a customer quote. An accessory item was assumed to be included in the pricing, when it is not. Sales would like to offer it at a steep discount in this case (below our cost). If the discount is agreed to before the shipment, is […]
