Mitigating Section 301 Duties With First Sale Customs Valuation
Companies are Considering the "First Sale" Rule to Lower Import Duties
Webinar: 1 CCS Credit
Each year, millions of dollars are paid in Customs duties unnecessarily because importers fail to take advantage of the “First Sale Rule.” In most import transactions, importers pay Customs duties on the FOB price charged by their vendors. Application of the First Sale Rule permits importers to legally pay duties on a lower value.
With the implementation of the Section 301 duties of an additional 25% on thousands of products, companies previously with 0% or very low duty rates are evaluating first sale savings opportunities.
Sandler, Travis & Rosenberg is a recognized authority on the First Sale Rule. This comprehensive webinar guides you through the process of building a robust First Sale program that will immediately add value to your company’s bottom line.
- Section 301 duties update
- how to assess your company’s First Sale duty savings potential
- how to create a First Sale Program with minimal impact to current transaction structure
- how to establish the requisite internal controls and procedures so that your duty savings program will stand up to Customs scrutiny
- how to work with your brokers and suppliers to make sure that documentation meets Customs’ rigid standards
- how to ensure that all future qualifying transactions are constructed to meet First Sale program requirements.
David Cohen is a member of Sandler, Travis & Rosenberg, P.A., resident in its Washington, D.C., office. He is also a member of the Firm's Operating Committee. Mr. Cohen's practice focuses on providing strategic advice to a wide range of clients on international trade and customs law matters including valuation, preference programs and customs audits. In particular, he assists companies in structuring multi-tiered transactions to maximize lawful duty savings transactions. Mr. Cohen also works closely with the firm’s Trade Negotiations and Legislative Affairs practice on issues such as the development and implementation of trade laws and regulations and representation of client interests before federal agencies and judicial bodies.
Charles Crowley is a member of Sandler, Travis & Rosenberg, P.A., resident in the New York office. As a nationally-recognized authority on international trade and business law, Mr. Crowley has substantial experience leading and directing global trade and customs practices. He concentrates his practice on assisting multinational corporations with a wide variety of customs and international trade activities, including international supply chain security and management, intellectual property rights, import/export process management, antidumping and countervailing duty matters, unfair trade actions and anti-corruption compliance.