Customs and Border Protection Issues Updated Valuation Encyclopedia
The Bureau of Customs and Border Protection (CBP) has published an updated version of the Valuation Encyclopedia on CBP's Web site. The 2004 version of the Valuation Encyclopedia, which replaces the previous edition published in early 2001, is a useful reference guide for importers to determine whether certain charges incurred in international transactions are subject to duties and fees.
Among the topics included in the Valuation Encyclopedia are:
--Indirect payments made from the importer to the overseas supplier or other third-party vendor, such as commissions, royalties, repairs and residual sales;
--Assists, such as equipment, molds, dies and other assistance provided by the importer to facilitate the manufacturing of goods;
--Insurance premiums assessed by the vendor or other third party;
--Loans provided by the importer to the manufacturer;
--Discounts afforded the importer by the selling agent or manufacturer; and
--Methods allowed by U.S. Customs for the correct declaration of the value of imported merchandise for duty and fee assessment purposes.
The updated Valuation Encyclopedia, which is more than 500 pages in length, can be found at the following site:
http://www.customs.ustreas.gov/xp/cgov/toolbox/legal/informed_compliance_pubs/value/
|posted by Douglas N. Jacobson| Permalink 
