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What duties and taxes are payable?
Unless exempt, all commercial goods imported into the U.S. are
subject to customs duty and taxes. In order to determine the applicable
duties and taxes payable, you must first determine their tariff
classification. In addition to customs duty and taxes, some goods
are also assessed in relation to other taxes - including excise
duty, excise tax, countervailing duties and anti-dumping duties.
What is Duty Drawback?
This is a refund from U.S. Customs of 99% of duty paid on imported
products when they are exported from the United States or destroyed
before use. To qualify for Duty Drawback you we'll need proof that
the imported item was exported from the United States within either
3 years (Unused) or 5 years (Manufacturing). Import and export documents
should be available. Duty drawback is a complicated procedure.
Please see your Customs Broker for further information.
What is a Customs Bond? Why is an Importer required to
post a bond with Customs?
A bond is "a contract which is given to ensure the performance
of an obligation by a law or regulation" When the bond is executed,
the bond principal agrees to pay duties, taxes and charges in a
timely manner, to make or complete entry, to produce documents and
evidence, to redeliver merchandise etc.
In lieu of a bond, an importer has the option of posting cash or
other U.S. government obligations in a sum equal to the bond amount.
However, if an importer deposits money with Customs, such funds
will not be released until some time after entry is liquidated -
this could take months or even years. ABCS can assist the importer
in getting the proper bond to expedite the release of their shipment.
Can I import a vehicle?
Imported motor vehicles are subject to safety standards (regulated
by the Department of Transportation DOT) and air pollution control
standards (regulated by the Environmental Protection Agency EPA).
If vehicles manufactured abroad conform to U.S. safety, bumper,
and emission standards, it is because these vehicles are exported
for sale in the United States. Therefore, it is unlikely that a
vehicle obtained abroad meets all relevant standards. Vehicles entering
the United States that do not conform with U.S. safety standards
must be brought into compliance, exported, or destroyed.
Nonresidents may import a vehicle duty-free for personal use up
to (1) one year if the vehicle is imported in conjunction with the
owner’s arrival.
Vehicles that are older than 25 years are usually exempt from safety
and pollution control standards.
Please contact an Import professional
at ABCS before you ship a vehicle to the U.S. For more information
you may visit the Customs,
EPA
or DOT
website.
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