This article delves into the significance of customs valuation and its role in international trade. It offers answers to common questions and relevant links to help businesses better navigate challenges in the international market.
Customs valuation is a critical process for determining the tariff value of imported goods, encompassing six main methods, from transaction value to alternative methods. This framework ensures fairness and transparency in international trade.
Customs valuation checks are common risk points in international trade. Businesses need to prepare various documents in advance, including commercial invoices, purchase contracts, and marine insurance policies, to verify the authenticity of the declared value of goods and mitigate potential tariff expenditure risks. Through thorough preparation and efficient document management, companies can better navigate customs challenges and ensure compliant operations.
This article analyzes the significance of HS Code 97 in the field of artworks, particularly hand-painted oil paintings and thangkas. It explores the specific content of the codes and their impact on market transactions, emphasizing the necessity of understanding these codes for buying and selling artworks.
First Sale Valuation is a rule that helps U.S. importers reduce customs duties. By assessing the value of goods based on the first sale price rather than the final transaction price, qualifying importers can effectively save costs and enhance market competitiveness.
To mitigate risks associated with air cargo, shippers can adopt a dual-protection strategy: purchasing air transport insurance and declaring the value of the goods. Insurance transfers risk to the insurance company through compensation. Declared value carriage ensures the carrier assumes full liability for compensation based on the pre-declared value. This combination maximizes the shipper's protection and safeguards their interests against potential losses or damages during air transportation.
JD Logistics has launched a new equity incentive plan involving 29 million shares, with a market valuation exceeding 200 million RMB. Other logistics companies, such as SF Express, Aneng, Shentong, and Yunda, are also actively engaging in equity incentives through share buybacks and new stock issuances to retain talent and enhance competitive strength. Overall, equity incentives have become a commonly adopted strategy in the industry, fostering a positive cycle of shared interests between companies and employees.
The Customs Revenue Package launched by the World Customs Organization aims to help countries address the decline in fiscal revenue caused by the global financial crisis. It focuses on enhancing the transparency of customs valuation and transfer pricing to promote fairness and efficiency in international taxation.
The article discusses the crucial role of customs in tariff classification, valuation, and origin certification, emphasizing the importance of establishing a modern customs system. By utilizing WCO tools and technologies, customs can more effectively meet national and business needs, encourage voluntary compliance among enterprises, and enhance the efficiency of international trade.
This article explores the role of advance rulings in international trade, highlighting the legal certainty and risk management advantages they offer to businesses and customs in terms of classification, origin, and valuation. The technical guidelines from the World Customs Organization support the implementation of advance rulings by countries, promoting trade efficiency and transparency.
