As multinational companies expand their business operations into emerging markets, customs compliance professional must stay on top critical import requirements and prepare for the current enforcement trends. Non-compliance risks in these countries are high due to evolving legal regimes, lack of transparency and often burdensome import processes. Whether you are new to the field or are a seasoned veteran with substantial experience, this practical and interactive working group will provide you with hands-on guidance on how to avoid the most common valuation and classification missteps when importing good into China. Discussion will include:

• Classifying the item with same item name but used in the different field and with different function in the same classification
• Classifying the item for avoiding the license requirement
• Classifying the full function device as a component
• Classifying all the parts of an equipment which are loaded in one shipment separately
• Classifying the item incorrectly due to the inaccurate Chinese translation of the item name
• How to prevent to using incorrect HS Code
• Valuation when Incoterm used is not CIF
• Valuation when bonded zones are used
• Valuation when processing trade (bonded manufacturing) is applied
• Duty exposure when having “non-trade” overseas payment such as royalties
• Valuation in case of related party transactions
• How to mitigate valuation related exposure