Import Compliance: How To Win A Free Place to Stay
Boskage Trade News has a clever posting on their blog today on Import Compliance:
How to Win a Free Place to Stay with Three Meals a Day
1. Send emails to your foreign suppliers requesting two invoices – one with a lower cost for CBP and one with the actual cost submitted directly to you.
2. Submit fraudulent invoices to CBP.
3. Instruct your foreign supplier declare only 50% of the value on items with higher duty rates.
4. Intentionally misclassify goods to receive lower duty rates.
5. Keep records of all of these communications.If you participate in the activities above, you might be the winner of an all expense paid trip to PRISON.
With all the recent coverage of exporters receiving fines and prison time, don’t forget that importers can be held responsible too! And new regulations like 10+2 make compliance even more complex.
Importer Security Filing (10+2) Compliance
CBP hasnt started enforcing 10+2 yet, but they are keeping an eye on who making an effort now, and who is delaying the inevitable. By January 2010, all importers must be ready for the ISF – leaving little more than 6 months to prepare. An automated solution can help ease the pain!
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