Customs Valuation Determination and Verification Workshop (Half Day)
March 7- Nashville, TN
Determining the import value stands as a pivotal requirement for demonstrating compliance, wielding significant influence over a global company's capacity to safeguard its financial interests. This encompasses duties, fees, taxes, statistical reporting figures, and reasonable care management.
This course will delve into the essential practices of exercising the due diligence necessary to justify declared import values. Relying solely on the costs stated in commercial invoices or standard shipping documents is deemed an indefensible approach and falls within the realm of common non-compliance practices.
Recommended participants for this course include individuals within the supply chain, specifically those holding responsibilities in procurement, sourcing, logistics, compliance, finance, and trade facilitation functions.
Topics will include but not be limited to the following:
Valuation Responsibilities of the Importer
Definitions of transaction value for customs purposes
Acknowledgment of corporate financial reporting of landed costs vs. value for customs purposes
Inclusions to entered value determinations
Exclusions from entered value determinations
No sale transaction valuation determinations
Incoterms and terms of sale influence on Customs reporting values
Valuation verification practices
Reliance on foreign suppliers' cost and valuation determinations
Computation of value defense
Written procedural valuation controls management
Alignment with corporate finance professionals for transparency in CBP reporting