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Distinguishing Between Assists, Packing, and Royalties to Maximize Duty Savings
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
1 CCS Credits
Purchase price: $200.00