On 26 July, an article in Global Trade Magazine says that the customs value is used to calculate duty liability of imports. To determine an accurate customs value, companies must factor in certain dutiable additions and non-dutiable deductions. It highlights 8 oft-overlooked non-dutiable elements, saying that historically, these savings opportunities have not been fully explored because the resources required to sustain some of these programs exceeded the savings. However, removing these non-dutiable costs can provide substantial savings – making it worth taking a second look at them for many importers.
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