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.
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.
