Current Hot Topics in Customs Valuation

Why Should You Attend:

Declaring the correct customs value at the time of entry is critical for U.S. importers. Importers have a statutory obligation (19 U.S.C. § 1484) to declare the correct value of goods to U.S. Customs and Border Protection (CBP) at the time of entry, however, the rules on customs valuation can be confusing and complex in their application. The failure to declare the correct customs value can lead to unexpected increases in duties and fees, and monetary penalties. Errors in customs valuation can also lead to intrusive, and expense, audits by U.S. Customs that can stretch back for up to five years. Understanding the rules on customs valuation enables importers accurately determine landed costs and reduce duties and fees by correctly taking advantage of allowable reductions in entered values.

This webinar will help attendees understand and identify critical areas of customs valuation that are often overlooked and or misunderstood by importers and customs brokers. It will enable you to investigate and take appropriate correct action; avoid costly investigations, audits, and unexpected increases in duties and fees, as well as monetary penalties.

Areas Covered in the Webinar:

• Acceptability of related party pricing for imports
• Deductions in value for expenses incident to the international shipment of goods
• Proper use of the “First Sale” rule for customs valuation
• Customs treatment of payments for royalties & licenses fees
• Identifying and reporting “assists,” “supplemental payments,” and packing costs
• Treatment of price reductions and rebates
• Reporting errors using prior disclosure and entry reconciliation

Who Will Benefit:

• Importers
• Exporters
• Purchasing department personnel
• Compliance officers
• Logistics/Supply chain managers and analysts
• Trade regulatory/legislative affairs professionals
• Sales/marketing personnel
• Training personnel
• Consultants
• International business operations

Instructor Profile:

George Tuttle, III is an attorney with the San Francisco law firm of George R Tuttle Law Offices (www.tuttlelaw.com ). He has more than 25 years’ experience advising clients on matters relating to customs and trade law, including tariff classification, valuation, dumping, country-of-origin, duty exemptions, IPR, NAFTA, FDA and FCC, prior disclosure, and resolution of penalty and seizure cases.

Mr. Tuttle works frequently with importers subject to Customs audits and assists them with participation in Customs’ Importer Self-assessment program; and in the development and implementation of internal controls over customs transactions. He has a diverse client base involving electronics, autos, apparel, footwear, telecommunication, biomedical and diagnostic instruments, as well as related party transfer pricing and its effects on customs value. He has successfully litigated several cases before the Court of International Trade regarding classification and value matters.

He is a frequent speaker and lecturer on customs law and trade matters for various trade groups and Customs brokers Associations.

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