- Anti-Corruption Compliance & Investigations
- CTPAT Border Security Program
- Customs Communications, Investigations & Regulatory Audits
- Duty Drawback
- Foreign-Trade Zones & Other Duty Deferral Programs
- Free Trade Agreements & Other Preference Programs
- Hazardous Materials Compliance & Defense
- Import Compliance
- Product Safety
- Rules of Origin Determinations & Country of Origin Marking
- Tariff Classification
All imported merchandise must be appraised for purposes of determining duty, taxes, and fees as well as for purposes of gathering economic data used by world governments to compile trade statistics. The majority of countries belonging to the World Customs Organization have adopted the WTO agreement on customs valuation, which sets forth the acceptable valuation methodologies in order of preference. Transaction value, based on the invoiced price of merchandise sold at arm’s length, is the preferred appraisement method, followed by a list of methods that must be considered in sequential order. The methods for appraisal can be complicated and a misstep can result in increased duty liabilities and even fines and penalties for improper declaration of value.
While most countries have adopted customs valuation laws that are substantially similar in content and implementation, there are nuanced differences in how sovereign countries have interpreted some key provisions of the law. As a global trade leader with knowledge of these differences in interpretation, ST&R offers customs valuation services for merchandise imported into any country in the world.
U.S. importers have a statutory burden to affirmatively establish that they operate in an atmosphere of reasonable care in all their import processes, including valuation of merchandise. Our valuation team helps importers meet this burden by setting up processes and procedures to assist our clients with meeting this U.S. Customs compliance standard with regard to the valuation of merchandise. When a dispute with the government arises regarding the valuation of imported merchandise, our team turns into tireless advocates for our clients’ interests before administrative agencies and the courts.
- October 24, 2018
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