Main Idea: The Valuation of the shipment that you report to Customs determines the duties/taxes you owe. The "Transaction Value" is used by CBP to calculate owed duties, and represents the amount you paid or agreed to pay for your goods to be exported to the U.S. There may be additions and deductions that you have to factor in when determining the valuation of your entry from your commercial invoice. Importers should look at more than just t [...]

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