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?
My company purchases items from our mfg site in Europe and ships direct to the US customer. We are the importer of record and use the intercompany value on the CI. However, the US sales person may agree to a price with the end customer that is less than my company is paying to our […]
Question: I have a question regarding how to determine value of fully depreciated item. The item are being returned back to the USA for storage purposes and some of the tapes are over 5 years old. The current value of each tape is 31.00. Obviously we dont want to use this amount, and at the […]
We are sending coupons to a 3rd party in Canada who will do consumer mailings for us. When declaring the value of the goods on the customs invoice is the value just for the printed paper coupons themselves – or is the value the actual redemption value of the coupons? This is a new one […]
I have a question for 9802 use of goods returning after repair abroad. The HTS 9802.00.40 or 9802.0050 states to use either 1.) the cost to the importer of such change, OR, 2.)if no charge is made, the value of such change. My question is for example, what if the total costs to repair is […]
I plan to submit the following scenarios for a binding ruling but wanted to get the opinion of the membership first. My company imports equipment with additional software options embedded upon it. As imported, the value of the operating system is included in the price of the hardware. The operating system allows the equipment to […]
