Managing cross-border trade transaction complexity
Global import and export requirements touch every piece of your business and must be considered holistically to effectively manage total tax liability and reduce compliance risk.
Tariff classification, customs valuation and country-of-origin rules — the “customs triangle” — pose complex legal and regulatory challenges. By taking a proactive approach to customs and international trade compliance and planning, businesses can reduce their risk and hone their competitive edge through quicker decision-making, more accurate cost predictability and smoother import and export clearance processes.
BDO’s partner-led team includes industry professionals, licensed customs brokers, export compliance officers, licensed attorneys, and accountants. We work with clients to provide effective support for global trade compliance, including:
Designing and improving internal procedures and processes
Reviewing compliance programs for effectiveness of controls
Analyzing supply chains to reduce duty and other indirect tax payments
Identifying refund or credit opportunities and reducing indirect tax cash leakage
Our customs and international trade team tracks evolving ESG and supply-chain dynamics and requirements. We work with your team to decrease risk, increase profitability and effectively manage your import- and export-related responsibilities.
How BDO Can Help
Enhance Import/Export Strategy
Create or update strategies for trade management and compliance with the tax and regulatory obligations triggered by cross-border transactions.
Take advantage of all available opportunities to reduce duties, obtain duty refunds and decrease indirect duty/fee cash leakage.
Decrease Risk & Exposure
Review internal compliance programs and import/export controls to reduce exposure and mitigate risk.
Remediate compliance issues and resolve enforcement actions to reduce penalty exposure and other negative financial impacts.
Uyghur Forced Labor Prevention Act
Importers must understand the Uyghur Forced Labor Prevention Act to avoid potentially damaging business impacts, including loss of merchandise and reputational harm. This Act requires importers to confirm that the goods they import are not produced with forced labor in whole or in part in the Xinjiang region of China. A broader law in effect since 1930 prohibits any imports into the U.S. made in whole or in part with forced labor. Businesses should work with suppliers to establish appropriate controls and assess supply chains for potential exposure to forced labor.
Importers Beware: The Uyghur Forced Labor Prevention Act Has Become LawJanuary 4, 2022
On December 23, 2021, President Biden signed the Uyghur Forced Labor Prevention Act into law. The UFLPA will take effect in June 2022 and seeks to ensure that goods made with forced labor in China’s Xinjiang Uyghur Autonomous Region will not enter the U.S.
Support Across the Customs Triangle
By focusing on tariff classification, customs valuation, and country of origin, we help businesses improve their global duty spend and reduce risk and exposure.
Review and classify goods under the global Harmonized Commodity Description and Coding System and local rules
Determine applicable rates of duty for tangible good imports and other regulatory requirements
- Review intercompany valuation agreements and other documentation
- Develop appropriate support for pricing formulas based on income tax and customs valuation rules
- Help companies employ alternative valuation methods to lower duties and other customs fees
Country of Origin
Determine the economic nationality of goods for preferential and non-preferential tariff treatment
Global Value Chain
BDO’s Global Value Chain Solutions help you overcome obstacles, unlock new value for customers and evolve your supply chain in sync with our increasingly connected world.
International Tax Insights
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Meet our Customs and International Trade Services Leader
Damon V. Pike
International Tax Principal; Customs & International Trade Services