What value should be on the commercial invoice submitted to U.S. Customs and Border Protection?
The value on a commercial invoice should be the price the buyer in the U.S. paid for the goods, not the amount the goods will be sold for in the U.S. Duty will be assessed on the price paid for the goods (not including the cost of freight and insurance) unless the basis for duty is some other measure, such as quantity or volume (i.e. 1.3 cents per bushel). You should include in the declared value any money paid for selling commissions, assists, royalties, packing and proceeds and these items should be noted on the commercial invoice. Failure to include the above is undervaluing the goods and may result in penalties. All prices in foreign currency must be converted to U.S. dollars on invoices and other entry documents. For more information on CBP valuations regulations, please reference the Informed Compliance Publication section of the CBP web site.
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