Distinguishing Between Assists, Packing, and Royalties to Maximize Duty Savings
Webinar: 1.5 CCS Credits
Assists (materials, tools, designs, etc.) can be a tricky proposition for companies providing them to manufacturers. The issues become more complex when importers provide packing or research and development that may comprise the dutiable value. Fortunately, a small amount of proactive planning can result in big duty and time savings when considering these elements in the context of global transactions. In this webinar we will discuss and map out a process you can use to manage these components of transaction value.
- identifying items or services that may not be dutiable assists, packing, or royalties
- benefitting from the best options to apportion and amortize assists or royalties
- structuring research/development and testing/engineering to avoid assists or royalties
- attributing assists to duty-free programs or drawback opportunities
- finding scrap, waste, and unused inventory opportunities
- converting assists, packing, or royalties to comprise part of the price of the goods
- using post-summary correction or reconciliation to minimize duties
- creating essential internal processes and procedures
- effectively addressing U.S. Customs and Border Protection inquiries and/or audits
Lenny Feldman concentrates his practice in complex issues pertaining to import and export compliance, penalty mitigation, and supply chain security, including CTPAT and other programs. Recognized as a leading authority on CTPAT, Mr. Feldman has counseled hundreds of companies through the certification, validation and revalidation processes. He is one of 20 members of CBP’s Commercial Customs Operations Advisory Committee, where he serves as co-chair of the Trade Modernization Subcommittee and as a member of the Trusted Trader Subcommittee. Earlier in his career he spent ten years with the U.S. Customs Service (now CBP), where he issued several hundred national guidelines, directives, and administrative rulings.