Customs Valuation Review Services: Avoid Penalties & Ensure Compliance

Valuation Review

Declaring the correct value of goods is critical to the customs entry process. By law (19 U.S.C. §1484), the importer is responsible for using reasonable care to enter, classify and value imported merchandise, and for providing information necessary for Customs to properly assess duties, collect trade statistics and determine whether all other applicable legal requirements have been met.

The use of the incorrect basis of valuation, or the omission of additional payments or the value of an assist can result in the assessment of increased duties and the imposition of penalties against the importer.

There are several methods of valuing imported goods, such as transaction value, deductive value, and computed value. In addition, there can also be additions to the value of imported merchandise for indirect payments, assists, and commissions that are not included in the selling price.

Braumiller Law Group assists importers to determine the correct declared value for merchandise and avoid costly penalties. In addition, importers can achieve significant savings by reductions in duty through the revaluation of imported goods.
Braumiller Law Group also assists importers in the preparation and submission of binding rulings to Customs to confirm the correct basis of valuation of merchandise, and, if the merchandise is subject to a post importation value increase, challenge that increase though the administrative protest procedure. We litigate value issues before the Court of International Trade whenever necessary to ensure that our clients are treated fairly by Customs.

Additional information on Customs valuation can be found by clicking on any of the following topics:

How Braumiller Law Group's IR Global Network Enhances International Trade Services?

We are proud to be a member of IR Global (the International Referral group), which offers the services of over 90,000 advisers throughout the world and is currently represented in over 155 jurisdictions covering over 70 unique practice areas. Each member of the group passes a stringent vetting procedure prior to an invitation to join to ensure specific client requirements are handled by the most highly skilled individuals in the field. Since 2010 the IR Global community has grown to over 1000 members worldwide based on the principles of friendship, trust, and a shared belief in going beyond the traditional role of the adviser.

IR Global member firms consist of the world’s highest quality boutique and mid-sized firms who service the mid-market. Firms which are focused on partner-led personal service and have extensive cross border experience. They represent the leading legal, accountancy and financial advisers, recommended exclusively by jurisdiction and practice area ensuring clients have the highest quality niche expertise available to them. 

The membership of the network allows our clients to be supported with accountancy and legal services wherever they may engage in business. International Referral provides us with international reach and representation, as well as immediate access to foreign expertise and the ability to conduct cross-border projects in collaboration with other member firms to better service our clients.

For international trade law advice or to find out more about how we can help you enter and negotiate foreign markets utilizing this network, please contact bob@braumillerlaw.com

 

Member Firm

 

Our Firm
About Braumiller Law Group
Corporate Responsibility
Testimonials
Submit Your Project

Frequently Asked Questions

1 What are the potential consequences of incorrect customs valuation for my company?

Incorrect valuation can lead to the assessment of increased duties and significant penalties against your company. By law, importers are responsible for exercising reasonable care in valuing imported merchandise to ensure proper duty assessment and compliance with all applicable legal requirements.

2 How can Braumiller Law Group assist my company with customs valuation challenges?

Braumiller Law Group assists importers in determining the correct declared value for merchandise to avoid costly penalties. They also help achieve duty reductions through revaluation, prepare binding rulings, and challenge post-importation value increases through administrative protests or litigation before the Court of International Trade.

3 Can proper customs valuation lead to duty savings for my business?

Yes, absolutely. Beyond avoiding penalties, importers can achieve significant savings by strategically revaluing imported goods. Braumiller Law Group assists clients in identifying these opportunities to reduce duty liabilities and optimize import costs.

4 What are the common methods for valuing imported goods, and what factors can add to the declared value?

There are several methods for valuing imported goods, such as transaction value, deductive value, and computed value. Additionally, factors like indirect payments, assists, and commissions that are not included in the selling price can add to the value, requiring careful consideration for accurate declaration.