Chapter 12 Outline - Chapter 12 Imports Customs and Tariff Law 1 Dutiable Status of Goods i Importing is the entering of goods into the customs

Chapter 12 Outline - Chapter 12 Imports Customs and Tariff...

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Chapter 12: Imports, Customs, and Tariff Law 1. Dutiable Status of Goods i. Importing is the entering of goods into the customs territory of a country. All commercial shipments must go through an administrative entry process supervised by national customs authorities and informally referred to as “clearing customs” ii. U.S. Bureau of Customs and Border Protection is the customs regulatory authority in the United States = “Customs” or “U.S. Customs” iii. Tariff law is the body of laws and regulations that determines the tariff or “dutiable” status of goods and the rate of duty iv. Customs law includes tariff law and extends to other areas of regulatory control over goods and people as they cross international borders v. The dutiable status of goods refers to the legal status of imported goods at the time of entry for purposes of compliance with the tariff and customs laws, determined by 3 factors: 1. The classification and coding of the article (what is it?) 2. The customs value of the article (what is it worth?) 3. The country of origin of the article (where is it coming from?) 4. Ultimately determines the tariff rate, possible quotas, country of origin marking and labeling, planning stages b. Classification of Goods i. A tariff classification is a method of categorizing different types of goods based on a uniform descriptive nomenclature or terminology, according to their tariff name, use, or physical characteristics 1. Found in tariff schedule, together with tariff rate for each item according to the country which it originated ii. Harmonized Commodity Description and Coding System 1. An international convention that uses uniform rules and a standardized tariff nomenclature to describe and code goods 2. Developed by World Customs Organization located in Brussels, 179 members 3. Adopted in US in 1989 and forms basis for HTSUS, which is maintained

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