Question: Good day ICPA Members, I was hoping some of you, who use the west coast (LA/LBC) ocean ports, could share your current logistics situation with me. We have a fair amount of ocean volume coming through the west coast and have for the last 2-3 weeks seen our turn time for CFS availability climb […]
Question: We are required to use one of the express carriers for all shipments that we pay for when possible. This is a nightmare for import compliance. We now require the carrier to contact us for instruction for EVERY import shipment so that we can provide proper instruction. Most shipments are items coming in from […]
Question: Does anyone have a template letter to send to distributors to remind them of US export regulations and restrictions on exporting to sanctioned parties? ========== Addl Answer: I have seen many such letters/ contract provisions and have drafted a few of them myself for clients. Most of the template documents that I have seen […]
Question: Our tax department self-assesses and accrues state use tax on purchase orders placed on vendors for material not included in the Cost of Goods Sold (COGS). Is this state use tax considered part of the price paid or payable? ========== Addl Answers: It is not clear, why an importer would ever be paying use […]
Question: Our affiliate in Mexico is planning on making direct purchase of fashion accessories from a U.S. vendor. Terms will be FCA U.S. port and they want the terms to be FCA Miami, FL, the location of our Distribution Center. The intention is then to consolidate these goods with the goods coming out of the […]
Question: Our tax department self-assesses and accrues state use tax on purchase orders placed on vendors for material not included in the Cost of Goods Sold (COGS). Is this state use tax considered part of the price paid or payable? ========== yes
Question: We are required to use one of the express carriers for all shipments that we pay for when possible. This is a nightmare for import compliance. We now require the carrier to contact us for instruction for EVERY import shipment so that we can provide proper instruction. Most shipments are items coming in from […]
Question: Does anyone have a template letter to send to distributors to remind them of US export regulations and restrictions on exporting to sanctioned parties? ========== Answers: Should also be in your T & Cs and in your contracts ========== Here’s some language, but this should not be in a reminder letter, but rather in […]
Question: We are looking to implement a database to consolidate and streamline import and export information globally (such as: HTS / ECCN classification, Customs descriptions, OGA requirements, etc).Based on the following criteria: 1 Part # = Multiple country HTS codes, Customs descriptions, OGA requirements, etc. Approx 30,000 part # per country Database would be in […]
Question: Just as US Customs has a form and procedure to establish an EIN as an IOR, does it have a corresponding form and procedure to de-activate (terminate) an IOR? We’ve already revoked the POA to the broker and terminating the continuous entry bond, so it seems that this would be the final step. ========== […]
QUESTION: We have EAR and ITAR products, some licensable. I am looking at a policy of requiring all customers, domestic and international, to have an end user certification. I am hesitant to include all customers as not all transactions are licensable. In light of staffing and the ever changing compliance environment, I believe this may be overkill and […]
Question: We wanted to get the thoughts of the ICPA community in regards to the FATCA which may be more tax related ,but will affect all importers. Foreign Account Tax Compliance Act (FATCA) is a US law aimed at foreign financial institutions, nonfinancial foreign entities, and other financial intermediaries to prevent US citizens from evade […]
