Exam 16: Customs Clearance

Customs offices sometimes can use a "countervailing" duty to tax products that the exporting government is found to have subsidized.

In order for an importer to come under the scope of informed compliance,it must show that it

A substantial tax break to companies that use imported parts as components of the products they export is called a duty drawback.

For countries in the World Trade Organization,the valuation of goods for import purposes is based upon

Duty is usually based upon

For textile goods imported in the United States,the country of origin is the country in which the last change in Harmonized System classification occurred.

A quota that applies to all imports under an HS heading,regardless of country of origin,is called a(n)____________________ quota.

In the United States,the Customs Service will refund 75 percent of the duty paid by an importer for,among other things,merchandise that is rejected by the importer as non-conforming to the original purchase order.

Tariffs can be calculated

Pre-shipment inspections are used when the importer is purchasing on a "cash-in-advance" or on a letter of credit basis.

The last four digits of the numbers in the Harmonized System of classification are country-specific.

In order for an importer to be found compliant under the concept of informed compliance,it must demonstrate that it has exercised reasonable care in the filing of its Customs entries.

In order for a product to be labeled as "made in the USA," its minimal United States content must be ____________________ percent of the product's value.

Most countries welcome imports.

Customs determines tariffs based upon the type of goods imported,which is determined according to a number of rules of ____________________ that essentially have been standardized worldwide.