U.S. Customs & Border Protection (CBP) issued an Informed Compliance Publication (ICP) on the “Proper Deductions for Freight & Other Costs.” In this publication, U.S. Customs states that, historically, there have been consistent problems in the accounting for the cost of freight, insurance, and other costs of international shipments.
This publication impacts all companies that ship goods into the United States. The notice elaborates on valuation, freight charges, and deductions of certain costs from the dutiable value of merchandise. Please take some time to read this publication. If you have any questions or concerns, please contact the U.S. Regulatory Team at transitionteamus@willsonintl.com or call, 716-260-1580, option 4.