The Importer - Business Review Webinars
The Importer - Business Review Webinars
The Importer - Business Review Webinars
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Valuation<br />
1. Transaction Value is the price paid or payable at time of exportation, less non-dutiable charges,<br />
plus any assists, royalties, license fees, or proceeds which accrue to the foreign seller.<br />
2. Transaction Value of Identical Merchandise is used when there is no legitimate Transaction Value and<br />
there is Identical Merchandise sold.<br />
3. Transaction Value of Similar Merchandise is used when there is no legitimate Transaction Value and<br />
Identical Merchandise has not been sold<br />
4. Deductive Value is the next method to be used if none of the Transaction Value methods above are<br />
available. This method starts with the resale price in the U.S., and deducts U.S. profit, overhead,<br />
international and domestic freight and insurance.<br />
5. Computed Value is the next method used by Customs if there is no resale. This method is a cost<br />
method, starting with costs associated with material and labor and overhead to produce, plus a normal<br />
foreign profit. An importer may select this method on the entry summary if they prefer this method over<br />
Deductive and there is not Transaction Value (as in 1, 2, or 3 above).<br />
6. Reasonable Adjustment Using All of the Above Methods is used as a last resort and must<br />
be reasonable