{"id":5287,"date":"2021-07-22T15:34:06","date_gmt":"2021-07-22T19:34:06","guid":{"rendered":"https:\/\/diaztradelaw.com\/?page_id=5287"},"modified":"2021-11-18T15:42:23","modified_gmt":"2021-11-18T20:42:23","slug":"valuation","status":"publish","type":"page","link":"https:\/\/diaztradelaw.com\/services\/importing\/valuation\/","title":{"rendered":"Valuation"},"content":{"rendered":"<p class=\"p1\">It is essential for importers to have a system in place to properly report the correct value of imported merchandise to U.S. Customs upon entry. Otherwise, imports may be under or overpayment customs duties to U.S. Customs. Diaz Trade Law assists in analyzing valuation methodologies to confirm imports are using a correct valuation upon importation. Correct valuation is a part of the importer of records \u201creasonable care\u201d requirement. Penalties for non-compliance can be severe. 19 U.S.C. 1592 is the statute CBP references when issuing penalties for negligence, gross negligence or fraud \u2013 depending on the degree of culpability CBP believes you had at the time of your non-compliance.<\/p>\n<p class=\"p2\"><b>Want More Information?<\/b><\/p>\n<p class=\"p1\">Relevant blog posts:<\/p>\n<ul class=\"ul1\">\n<li class=\"li3\"><span class=\"s1\"><a href=\"https:\/\/diaztradelaw.com\/need-ace-account\/\"><span class=\"s2\">Why You Need Your VERY OWN ACE Account<\/span><\/a><\/span><\/li>\n<li class=\"li3\"><span class=\"s3\"><a href=\"https:\/\/diaztradelaw.com\/customs-valuation-101\/\"><span class=\"s2\">Customs Valuation 101<\/span><\/a><\/span><\/li>\n<li class=\"li3\"><span class=\"s3\"><a href=\"https:\/\/diaztradelaw.com\/why-pre-compliance-is-a-must\/\"><span class=\"s2\">Why Pre-Compliance is a MUST<\/span><\/a><\/span><\/li>\n<li class=\"li3\"><span class=\"s1\"><a href=\"https:\/\/diaztradelaw.com\/get-binding-ruling\/\"><span class=\"s4\">Should You Get a Binding Ruling?<\/span><\/a><\/span><\/li>\n<li class=\"li3\"><span class=\"s5\">Future of First Sale Rule in Question<\/span><\/li>\n<li class=\"li3\"><span class=\"s3\"><a href=\"https:\/\/diaztradelaw.com\/using-middleman-learn-lower-customs-value-using-first-sale-2\/\"><span class=\"s2\">Using a Middleman? Learn How to Lower Your Customs Value Using First Sale!<\/span><\/a><\/span><\/li>\n<\/ul>\n<p class=\"p4\">Relevant on-demand webinars:<span class=\"Apple-converted-space\">\u00a0<\/span><\/p>\n<ul class=\"ul1\">\n<li class=\"li3\"><span class=\"s3\"><a href=\"https:\/\/diaztradelaw.com\/product\/importing-101-introduction-to-u-s-customs\/\"><span class=\"s2\">Importing 101 \u2013 Introduction to U.S. Customs<\/span><\/a><\/span><\/li>\n<li class=\"li3\"><span class=\"s1\"><a href=\"https:\/\/diaztradelaw.com\/product\/cbp-ace-auditing-your-import-history\/\"><span class=\"s2\">ACE: Auditing Your Import History<\/span><\/a><\/span><\/li>\n<li class=\"li5\"><span class=\"s3\"><a href=\"https:\/\/diaztradelaw.com\/product\/building-and-maintaining-an-effective-import-compliance-plan\/\"><span class=\"s2\">How to Build and Maintain an Effective Import Compliance Plan<\/span><\/a><\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>It is essential for importers to have a system in place to properly report the correct value of imported merchandise to U.S. Customs upon entry. Otherwise, imports may be under or overpayment customs duties to U.S. Customs. Diaz Trade Law assists in analyzing valuation methodologies to confirm imports are using a correct valuation upon importation. Correct valuation is a part of the importer of records \u201creasonable care\u201d requirement. Penalties for non-compliance can be severe. 19 U.S.C. 1592 is the statute CBP references when issuing penalties for negligence, gross negligence or fraud \u2013 depending on the degree of culpability CBP believes you had at the time of your non-compliance. Want More Information? Relevant blog posts: Why You Need Your VERY OWN ACE Account Customs Valuation 101 Why Pre-Compliance is a MUST Should You Get a Binding Ruling? Future of First Sale Rule in Question Using a Middleman? Learn How to Lower Your Customs Value Using First Sale! Relevant on-demand webinars:\u00a0 Importing 101 \u2013 Introduction to U.S. Customs ACE: Auditing Your Import History How to Build and Maintain an Effective Import Compliance Plan<\/p>\n","protected":false},"author":3,"featured_media":0,"parent":1022,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-5287","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Valuation - Customs &amp; International Trade Law Firm<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/diaztradelaw.com\/services\/importing\/valuation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Valuation - Customs &amp; International Trade Law Firm\" \/>\n<meta property=\"og:description\" content=\"It is essential for importers to have a system in place to properly report the correct value of imported merchandise to U.S. Customs upon entry. Otherwise, imports may be under or overpayment customs duties to U.S. Customs. Diaz Trade Law assists in analyzing valuation methodologies to confirm imports are using a correct valuation upon importation. Correct valuation is a part of the importer of records \u201creasonable care\u201d requirement. Penalties for non-compliance can be severe. 19 U.S.C. 1592 is the statute CBP references when issuing penalties for negligence, gross negligence or fraud \u2013 depending on the degree of culpability CBP believes you had at the time of your non-compliance. Want More Information? Relevant blog posts: Why You Need Your VERY OWN ACE Account Customs Valuation 101 Why Pre-Compliance is a MUST Should You Get a Binding Ruling? Future of First Sale Rule in Question Using a Middleman? Learn How to Lower Your Customs Value Using First Sale! Relevant on-demand webinars:\u00a0 Importing 101 \u2013 Introduction to U.S. Customs ACE: Auditing Your Import History How to Build and Maintain an Effective Import Compliance Plan\" \/>\n<meta property=\"og:url\" content=\"https:\/\/diaztradelaw.com\/services\/importing\/valuation\/\" \/>\n<meta property=\"og:site_name\" content=\"Customs &amp; International Trade Law Firm\" \/>\n<meta property=\"article:publisher\" content=\"http:\/\/facebook.com\/diaztradelaw\" \/>\n<meta property=\"article:modified_time\" content=\"2021-11-18T20:42:23+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@diaztradelaw\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/diaztradelaw.com\/services\/importing\/valuation\/\",\"url\":\"https:\/\/diaztradelaw.com\/services\/importing\/valuation\/\",\"name\":\"Valuation - Customs &amp; International Trade Law Firm\",\"isPartOf\":{\"@id\":\"https:\/\/diaztradelaw.com\/#website\"},\"datePublished\":\"2021-07-22T19:34:06+00:00\",\"dateModified\":\"2021-11-18T20:42:23+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/diaztradelaw.com\/services\/importing\/valuation\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/diaztradelaw.com\/services\/importing\/valuation\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/diaztradelaw.com\/services\/importing\/valuation\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/diaztradelaw.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Services\",\"item\":\"https:\/\/diaztradelaw.com\/services\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Importing\",\"item\":\"https:\/\/diaztradelaw.com\/services\/importing\/\"},{\"@type\":\"ListItem\",\"position\":4,\"name\":\"Valuation\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/diaztradelaw.com\/#website\",\"url\":\"https:\/\/diaztradelaw.com\/\",\"name\":\"Customs &amp; International Trade Law Firm\",\"description\":\"Jennifer Diaz\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/diaztradelaw.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Valuation - Customs &amp; International Trade Law Firm","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/diaztradelaw.com\/services\/importing\/valuation\/","og_locale":"en_US","og_type":"article","og_title":"Valuation - Customs &amp; International Trade Law Firm","og_description":"It is essential for importers to have a system in place to properly report the correct value of imported merchandise to U.S. Customs upon entry. Otherwise, imports may be under or overpayment customs duties to U.S. Customs. Diaz Trade Law assists in analyzing valuation methodologies to confirm imports are using a correct valuation upon importation. Correct valuation is a part of the importer of records \u201creasonable care\u201d requirement. Penalties for non-compliance can be severe. 19 U.S.C. 1592 is the statute CBP references when issuing penalties for negligence, gross negligence or fraud \u2013 depending on the degree of culpability CBP believes you had at the time of your non-compliance. Want More Information? Relevant blog posts: Why You Need Your VERY OWN ACE Account Customs Valuation 101 Why Pre-Compliance is a MUST Should You Get a Binding Ruling? Future of First Sale Rule in Question Using a Middleman? Learn How to Lower Your Customs Value Using First Sale! Relevant on-demand webinars:\u00a0 Importing 101 \u2013 Introduction to U.S. Customs ACE: Auditing Your Import History How to Build and Maintain an Effective Import Compliance Plan","og_url":"https:\/\/diaztradelaw.com\/services\/importing\/valuation\/","og_site_name":"Customs &amp; International Trade Law Firm","article_publisher":"http:\/\/facebook.com\/diaztradelaw","article_modified_time":"2021-11-18T20:42:23+00:00","twitter_card":"summary_large_image","twitter_site":"@diaztradelaw","twitter_misc":{"Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/diaztradelaw.com\/services\/importing\/valuation\/","url":"https:\/\/diaztradelaw.com\/services\/importing\/valuation\/","name":"Valuation - Customs &amp; International Trade Law Firm","isPartOf":{"@id":"https:\/\/diaztradelaw.com\/#website"},"datePublished":"2021-07-22T19:34:06+00:00","dateModified":"2021-11-18T20:42:23+00:00","breadcrumb":{"@id":"https:\/\/diaztradelaw.com\/services\/importing\/valuation\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/diaztradelaw.com\/services\/importing\/valuation\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/diaztradelaw.com\/services\/importing\/valuation\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/diaztradelaw.com\/"},{"@type":"ListItem","position":2,"name":"Services","item":"https:\/\/diaztradelaw.com\/services\/"},{"@type":"ListItem","position":3,"name":"Importing","item":"https:\/\/diaztradelaw.com\/services\/importing\/"},{"@type":"ListItem","position":4,"name":"Valuation"}]},{"@type":"WebSite","@id":"https:\/\/diaztradelaw.com\/#website","url":"https:\/\/diaztradelaw.com\/","name":"Customs &amp; International Trade Law Firm","description":"Jennifer Diaz","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/diaztradelaw.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"}]}},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/diaztradelaw.com\/wp-json\/wp\/v2\/pages\/5287","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/diaztradelaw.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/diaztradelaw.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/diaztradelaw.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/diaztradelaw.com\/wp-json\/wp\/v2\/comments?post=5287"}],"version-history":[{"count":0,"href":"https:\/\/diaztradelaw.com\/wp-json\/wp\/v2\/pages\/5287\/revisions"}],"up":[{"embeddable":true,"href":"https:\/\/diaztradelaw.com\/wp-json\/wp\/v2\/pages\/1022"}],"wp:attachment":[{"href":"https:\/\/diaztradelaw.com\/wp-json\/wp\/v2\/media?parent=5287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}