Industry Event presented by the FTA: Customs Valuation

This full day class is intended for compliance professionals with responsibility for U.S. and/or global customs compliance, and for management with finance responsibilities that impact the customs valuation of goods moving in cross-border transactions. The course will provide an in-depth review of the rules for customs valuation used in WTO member countries, with a particular emphasis on U.S. customs regulations and recent developments. It will also cover practical advice for managing compliance with customs valuation rules and for reporting value adjustments. Topics will include:

• Transaction value and the alternative bases of appraisement
• CBP’s policy on reporting transfer price adjustments
• Identifying and valuing assists
• Product development and engineering costs
• Royalties and license fees relating to intellectual property and technology
• Validating related party transfer prices
• Management fees and other inter-company charges that can impact customs value
• “First sale” and other duty saving structures
• Calculating deductive and computed value
• Reconciliation and other methods for reporting value adjustments to Customs
• Responding to Customs inquiries and audits related to valuation
• Penalties and how to avoid them

Instructor:

Erik Smithweiss, Partner

Grunfeld, Desiderio, Lebowitz, Silverman & Klestadt  LLP

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