Customs Duty Operations

What You Will Learn

• 1 Learn the fundamentals of customs duty, including legal basis and key terminology.
• 2 Understand customs valuation methods, including transaction value and adjustments.
• 3 Apply the Harmonized System for accurate classification of goods.
• 4 Calculate duty rates using tariff schedules and preferential treatment.
• 5 Process customs declarations and documentation for import and export.
• 6 Leverage free trade agreements for duty reduction and preferential rates.
• 7 Implement compliance programs to avoid penalties and manage audits.
• 8 Operate as a customs broker, including licensing and responsibilities.
• 9 Utilize duty drawback mechanisms to recover duties on re-exported goods.
• 10 Adopt technology solutions like single window systems for efficient operations.