CBP Releases New Informed Compliance Publication on Valuation of Fresh Produce
CBP released a new informed compliance publication on March 21 on determining the customs value of fresh produce. The new ICP “provides guidance on the valuation of fresh produce imported into the United States and references valuation decisions” in the form of rulings issued by the Valuation and Special Programs Branch of CBP’s Office of Regulations & Rulings.
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Sections of the new guidance cover application to fresh produce of methods of appraisal, including transaction value, deductive, computed and fallback value. Other sections cover reconciliation for fresh produce and the application of reasonable care requirements to fresh produce importers.
The new ICP, dated March 16, “reflects the position on or interpretation of the applicable laws or regulations” by CBP “as of the date of publication,” the agency said. “It does not in any way replace or supersede those laws or regulations.”