First Sale Duty Savings - Not Just for Apparel and Retail Anymore!
Webinar: 1 CCS Credit
Please join us for a special ST&R webinar designed to help importers of virtually all products to significantly reduce tariffs through the first sale process. This webinar is particularly important for importers that have been subject to the recent spate of protectionist tariffs involving China.
Each year, millions of dollars in customs duties are paid unnecessarily because importers fail to take advantage of the first sale rule. Whereas in most import transactions importers pay duties on the FOB price charged by their vendors, the first sale rule permits them to legally pay duties on a lower value. With the advent of Section 301 duties of up to 25 percent on thousands of products, importers previously subject to zero or very low duties are evaluating first sale savings opportunities.
- assessing your company’s first sale duty savings potential
- creating a first sale program with minimal impact on current transaction structure
- establishing the requisite internal controls and procedures so your duty savings program will stand up to CBP scrutiny
- working with your brokers and suppliers to make sure documentation meets CBP’s rigid standards
- ensuring that all future qualifying transactions are constructed to meet first sale requirements
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. In addition, Mr. Crowley provides counsel to clients on customs issues such as first sale and other valuation matters, duty refunds and tax/tariff reductions, foreign-trade zones and customs audits.
MARK J. SEGRIST is a member of Sandler, Travis & Rosenberg, P.A.. His practice is focused primarily on import and export trade law and assisting clients in acquiring duty-saving benefits under the First Sale Rule. With regard to imports, Mr. Segrist’s practice focuses primarily on providing strategic advice and counsel to a wide range of multinational clients on international trade and customs law matters. He also has extensive experience assisting clients in properly structuring multi-tiered transactions to maximize lawful duty savings under the First Sale Rule.