Proper valuation is necessary to correctly calculate Customs duties, taxes, and fees. Come join us as we discuss different value calculation methods, related-party transactions, and how to document your work so that you’re prepared for any questions that might arise.
BIS: Issued an Update for Samsung and SK hynix
BIS: Issued an Update for Samsung and SK hynix
October 13, 2023/
The Bureau of Industry and Security issued a rule updating the general authorizations for Samsung and SK hynix for semiconductor facilities in PRC. This is under the Validated End-User (VEU) program. This basically gives the South Korea companies permission to continue work in their CN facilities and still do business with the US.
Read More
Related Posts
CSMS: Compliance Reminders for Drawback Filers
Customs and Border Protection posted some reminders to drawback filers on how to stay in compliance with drawback claims, and reminded filers that noncompliant claims won’t get drawback, and the claimant can be subject to penalties. Read More
BIS: Streamlight Faces Civil Penalty for Antiboycott Violations
Bureau of Industry and Security announced a civil penalty against Streamlight (manufacturer or portable lighting products) to resolve violations of antiboycott provisions. Streamlight filed a VSD, cooperated, and implemented remedial measures. In 2019, they participated in a Bahrain trade show. The logistics provider required that Streamlight give them a packing list certifying that the goods…
Justice: Alexis LLC Settles with U.S. Government Over Allegations of Underpaying Customs Duties on Imported Apparel
The US is resolving a civil suit by settling with Alexis LLC, a womenswear company, for underpaying customs duties on imported apparel. This is not an admission of liability by Alexis. It resolves claims that they violated the False Claims Act by misreporting to CBP the value of apparel, avoiding the full customs duties. Read…
Justice: Wisconsin Companies Pay Over $10 Million to Settle Whistleblower Allegations of False Claims Act Violations for Undervaluing Chinese Imports
Precision Cable Assemblies, Global Engineered Products, and their principals paid >$10 million to resolve a whistleblower suit under the False Claims Act. This is due to failure to pay duties on goods imported from China. These companies are Wisconsin corps who allegedly submitted false commercial invoices that undervalued the imported goods from 2016-2021. Read More