Customs & international trade: Customs regulatory compliance
Customs compliance is an effort that spans many parts of an organization, from IT to finance to logistics. Managing your customs and trade compliance is complex internally and understanding the compliance requirements for duty preference programs such as NAFTA and other FTAs is a daunting tax for organizations of any size. PwC’s Customs & International Trade practice can assist you with your compliance needs, offering services including:
- Tariff classification. Classification drives a number of import variables — including admissibility, duties owed, and eligibility for special trade programs. PwC can provide guidance to your company on classification compliance through our Classification Center of Excellence.
- Customs value. Value declared impacts the amount of duties paid and whether the importer is in compliance with US value rules by capturing all statutorily prescribed elements of valuation. In addition, for related parties, the interaction and acceptability of Transfer Pricing from a custom perspective is a complex area. Our customs compliance specialists can help guide your company through this critical process.
- Trade preference programs. Understanding where free trade agreement opportunities are available, and taking advantage of them on bilateral and multilateral levels, can be both complicated and time-consuming for a company. PwC can assist importers in navigating the rules of origin and the eligibility requirements necessary to achieve compliance under all relevant agreement(s).
- Training programs. Our professionals are available to conduct both online and onsite training programs for all areas of customs planning and compliance. Training programs can be tailored to your company's compliance team needs and to your unique business environment.
- Focused assessment/audit preparation and support. In many companies today, the customs function is decentralized and may not be linked to other core business processes. This can lead to a lack of efficiency and, more importantly, to a failure to meet today’s standard of reasonable care. PwC can help you identify areas of risk, and maintain a state of compliance readiness and penalty avoidance.
- Importer self-assessment (ISA). ISA is a voluntary program that allows importers to manage their own compliance responsibilities in exchange for less customs oversight. Our specialists can evaluate your company’s compliance strategy and help you apply and maintain your ISA program.
- C-TPAT. C-TPAT is a voluntary supply chain security program and forms the basis for qualification for other customs program benefits. In addition, with the global increase in supply chain security programs, the ability to develop common approaches is critical to an efficient and effective security program. Our team can assist you with the application and on-going maintenance of your supply chain security program.
- Compliance assessment. Maintaining a detailed and comprehensive customs compliance strategy together with internal controls and procedures is key to satisfying today’s standard for reasonable care. PwC can assess key compliance risks in your organization and suggest a more comprehensive reasonable care policy.
- Trade Automation Services. We can assist with software selection, defining functional requirements, design, testing and implementation of various software solutions on the market.
For more information on the comprehensive customs compliance services we offer, please contact one of our professionals.