Customs and Trade Law Weekly Snapshot

Here is a recap of the latest customs and international trade law news:

[…]

Customs and Trade Law Weekly Snapshot

Here is a recap of the latest customs and international trade law news:

[…]

Customs and Trade Law Weekly Snapshot

Here is a recap of the latest customs and international trade law news:

[…]

Importing into Puerto Rico? Don’t Forget about Paying Use Tax

Puerto Rico, a U.S. territory, although uniquely situated as a part of the customs territory of the United States it simultaneously operates its own internal tax system for importations into Puerto Rico. This means importations of goods into Puerto Rico must meet all import requirements that any importation into the United States must meet. For example, importations are subject to duties, taxes, and fees imposed by CBP, and importations must meet the health, safety, and sanitary and phytosanitary requirements of a wide range of federal agencies such as the U.S. Department of Agriculture, the U.S. Consumer Products Safety Commission, the U.S. Food & Drug Administration, etc.

Meanwhile, importations into Puerto Rico are additionally subject to the territory’s own entry tax administered by the Departmento de Hacienda (“Hacienda”), a Puerto Rican governmental agency that serves the function of a territory treasury department. Puerto Rico’s unique entry tax is a component of a two-pronged tax system for goods, known as the Impuesto sobre Ventas y Uso (“IVU”) (in English, “Sales and Use Tax”). As the name suggests, the IVU is comprised of (1) sales tax, and (2) a use tax.

The sales tax functions similar to sales taxes elsewhere in the United States. In Puerto Rico, the Hacienda requires that sales taxes on goods and services be collected by goods and services providers and paid to the Hacienda on a monthly basis. On the other hand, the use tax is the amount that a party must pay when introducing an item to […]

By |2022-01-28T15:32:48-05:00February 1, 2022|AD/CVD, Best Practices, Enforcement, Import, International Trade, Pre-compliance, Reasonable Care, U.S. Customs and Border Protection (CBP)|Comments Off on Importing into Puerto Rico? Don’t Forget about Paying Use Tax

2021: A Year in Review

From all of us at Diaz Trade Law, we are incredibly thankful and grateful for your support this year. Despite this ongoing pandemic, Diaz Trade Law still managed to save our clients MILLIONS of dollars in 2021. It is with great joy that we finish off 2021 filled with numerous achievements and accomplishments were humbled to share with you. We look forward to assisting you in what we envision will be a better and brighter 2022!

[…]

Catch Up on All DTL Blogs from 2021

We want to make sure you stay up to date with the hottest trade blogs from 2021. Below is a summary of what you missed by category. Enjoy! […]

Customs and Trade Law Weekly Snapshot

Here is a recap of the latest customs and international trade law news:

CBP 

  • In Fiscal Year 2021, CBP at the LA/Long Beach Seaport seized More Than $760 Million in Counterfeit and Prohibited Products, a 652% increase over the previous year.
  • CBP issues guidance regarding the extension of product exclusions from additional Section 301 China duties on certain medical-care products to address COVID-19.
  • With changes to the HTSUS classification systems possibly coming as early as January 1, 2021, U.S. importers should review their classifications and ensure compliance with U.S. regulations

BIS

China

Go to Top