In today's high-tariff environment, maximizing every deduction is critical. With the section 301 tariffs, THE ADDITIONAL 10%, on China origin products many companies are paying significantly more, reducing their bottom line profit. Most recently the dismantling of the section 321 program. Other counties of origin are also now being potentially targeted for higher tariffs.
Potential cost savings through the building / identification of non-dutiable charges from the either the structure or valid deductions allowed. However, in this high tariff environment, these programs can help companies easily achieve cost saving, normally from 3 to 12% .
Of course, like with any duty-savings program, strong controls must be implemented to preserve compliance. As it is likely that steep tariffs will be in place for some time, companies should evaluate which of these programs can help reduce costs, potentially improve the return on investment and then develop an implementation program.
8POTENTIAL FACTORS FOR DUTY REDUCTIONS:
- Freight freight and international insurance
- Supply chain ( origin ) Costs
- Buying Agency Costs ( can be approximately 10%) deducted from dutiable value
- Latent Defect Allowances
- Post importation Price Adjustments
- Origin taxes and other fees – exp. VAT or GST
Our The reputation of MDG Solutions Inc is built on our extensive knowledge and working within the acceptable framework of U.S. Customs. Our staff of experts in the Customs field are our assets. Our team brings together personnel from different facets of the importing. These personal will be available to you from beginning to the actual operation. To maintain our reputation and the success of our client we encourage our partners to remain compliant and follow the guidelines we will suggest .
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