Customs Valuation

The importer must declare the proper dutiable value of imported merchandise. Because the majority of items are assessed on an ad valorem basis, the importer faces a duty loss to the government from an underdeclared value, and this can expose the importer to a civil penalty and other sanctions.

Unfortunately, some importers make unwitting mistakes such as failing to account for dutiable assists or other off-invoice payments. Most of these violations are unintentional, frequently due to a lack of understanding of the applicable regulation.

TCS LLC professionals can simplify, clarify, and apply the proper principles in this complex area. We can recommend best practices to resolve past errors, implement the required corrective actions, and design a system of controls to prevent any recurrence. Just as important, we can synchronize this customs advice with the demands of transfer pricing and international tax.