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Dutycalc Data Systems was founded in 1988 as a software and consulting company that designs, develops and implements management support systems for the import, export and brokerage communities. Our primary area of focus is Duty Drawback and the implementation of our fully automated Drawback System.

COMPANY INFO

6300 Stanley Dr
Auburn, Ca
95602

+1 (530) 637-1006

info@dutycalc.com

WE'RE SOCIAL

Duty Calc - Duty Drawback Software and Consulting Company

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International Trade & The Pandemic

US Trade and Investment Policy Updates Duty Drawback Software | Import Export Consulting | Processing Filing | Full Service
Wednesday, 27 May 2020 / Published in Drawback, drawback software, export tax, import tax

International Trade & The Pandemic

International Trade & The Pandemic

Duty Drawback Software | Import Export Consulting | Processing Filing | Full Service

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The COVID-19 pandemic has greatly affected international trade. If you are an importer or an exporter you have seen the impact first-hand. But we understand that there are so many changes that it can be hard to stay updated. Because of that, we are here today to highlight some of the most important changes in the industry.  The Office of the U.S. Trade Representative is accepting comments through June 25 on the possible removal of the Section 301 25% tariff on medical products from China. This includes the products that have previously been rejected for an exclusion. In order to submit a comment, you must identify the product as precisely as possible, including the ten-digit HTSUS subheading and its functionality and physical characteristics. Then you must explain precisely how it relates to the COVID-19 response, according to Sandler, Travis & Rosenberg, P.A. International Trade, Customs & Export Law.  There have also been changes coming from the Department of Homeland Security. On April 7, they issued a temporary rule that prohibits exports of personal protective equipment being used to treat COVID-19 without explicit approval by the Federal Emergency Management Agency.  Lastly, companies might be able to use a sophisticated transfer pricing strategy to achieve significant duty savings and conserve cash. Retroactive transfer pricing adjustments are generally considered part of the customs value of previously imported goods and may need to be reported to U.S. Customs and Border Protection. By utilizing CBP’s reconciliation program companies can take advantage of any retroactive transfer price adjustments by reducing previously declared dutiable values. They can also help provide liquidity which some companies are in dire need of during these times.  During this pandemic, the import and export industry is changing constantly. To stay updated reach out to us or stay updated her on our monthly blog.

Tagged under: International Trade

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    Dutycalc Data Systems was founded in 1988 as a software and consulting company that designs, develops and implements management support systems for the import, export and brokerage communities. Our primary area of focus is Duty Drawback and the implementation of our fully automated Drawback System.

    COMPANY INFO

    6300 Stanley Dr
    Auburn, Ca
    95602

    +1 (530) 637-1006

    info@dutycalc.com

    WE'RE SOCIAL

    TOP