U.S. Customs Value Explained (VIDEO)

Importing goods into the United States is a critical step for many businesses, but it can quickly become overwhelming if you aren’t familiar with the rules. At the Clark-Esposito Law Firm, P.C., we help importers cut through the complexity and avoid costly mistakes. Click the button below to schedule an intake meeting with our office.

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Ensuring your goods are valued correctly not only helps avoid penalties but also ensures compliance with U.S. Customs and Border Protection (CBP) regulations. In simple terms, the U.S. Customs Value is the price of your goods as determined by specific rules set by CBP. The most common method used is the transaction value, which is based on the price paid or payable for the goods when sold for export to the United States. This value includes additional costs such as packing, royalties, or licensing fees that the buyer is responsible for paying.

When the transaction value cannot be used, for instance, if there is no sale or the price is influenced by special conditions, CBP uses alternative valuation methods. These include the transaction value of identical or similar merchandise, deductive value, or computed value.

Incorrect valuation can lead to severe consequences, including fines, audits, and delays. It is essential to declare all relevant costs and ensure your documentation reflects the true value of your goods. CBP carefully scrutinizes valuations to protect U.S. trade policies and ensure a level playing field for importers.

To get it right, always provide accurate invoices and supporting documents that clearly outline the price paid or payable and any additional costs. If you are unsure about your valuation method, CBP allows importers to request binding rulings for added certainty.

Navigating Customs Value regulations can be complex, but you do not have to handle it alone. At the Clark-Esposito Law Firm, P.C., we help importers ensure compliance and avoid costly errors. If you’d like to learn more about determining the proper U.S. Customs value, watch our video above.

Have questions? Give our office a call today at (917) 546-6997 or schedule an intake meeting, we would be happy to speak with you.

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