Basic Principles Valuation: Part 3 - tuttlelaw.com
Basic Principles of Customs Valuation: Part 3PRESENTER: GEORGE R. TUTTLE, IIIGEORGE R. TUTTLE LAW OFFICESPHONE (415) 986 MAIL: 2014 BY TUTTLE LAW OFFICESCOPYRIGHT 2014 BY Tuttle Law Offices What is covered in this Webinar? Valuation of Consignments, Samples, Demo & Evaluation Units, Returns and Repairs and Defective Merchandise The other methods of valuation Reporting value changes: PEAs, PSCs, and CBP s Reconciliation ProgramCurrent Hot Topics in Customs ValuationPage 2COPYRIGHT 2014 BY Tuttle Law Offices Key Resources, cont. Customs Rulings: Customs Informed Compliance Publications compliance publications Customs Value Customs Valuation Encyclopedia (1980 2010) Determining the Acceptability of Transaction Value for Related Party Transactions Bona Fide Sales & Sales for Exportation to the United States Proper Deductions for Freight & Other Costs Buying & Selling Commissions Reasonable CareValuation FundamentalsPage 3COPYRIGHT 2014 BY Tuttle Law Offices Customs value law (1401a) provides for five methods of appraisementof merchandise Must be applied in sequential order: Transaction value Transaction value of identical or similar merchandise Deductive value Computed value A derived (fall back) method reasonably adjusted to circumstancesValuation FundamentalsPage 4COPYRIGHT 2014 BY Tuttle Law Offices What is Transaction Value?
Other important rulings on the valuation of returns
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