Valuing Your Imports for U.S. Customs Entry

As a result of the trade wars there has been significant increase in tariffs on imports. Because tariffs are applied based on the value of imports it is critical that companies understand how to properly value their imports under U.S. customs laws. Using improper values may lead to draconian audits, enforcement actions and penalties imposed by U.S. Customs and Border Protection. However, smart importers structure their transactions to reduce U.S. customs values, creating significant cost savings from reduced tariffs. This topic will explore the basic rules of proper U.S. customs valuation, common errors, how to avoid risks, and how to minimize U.S. customs value to maximize your company’s profits.

Learning Objectives

• You will be able to review basic U.S. custom value rules and methods.
• You will be able to identify possible deductions from U.S. customs value.
• You will be able to recognize common valuation errors and penalties.
• You will be able to describe strategies to reduce U.S. customs requests, audits and enforcement actions.