International Trading Import Export Tax

International Trade Tax

The United States trades more than $1 trillion in goods a year. And it’s all up to importers and exporters to pay national and international trade taxes.

Determining whether your product is ready to be shipped and what international trade taxes are applicable can be tricky. U.S. commerce laws require exporters and importers to wade through a long, drawn-out process, which includes classifying the product and using complicated formulas to figure out the international trade tax, or tariff.

Laws and international trade taxes can also vary, depending on the country the product is being shipped from or being sent to. Products entering the U.S. territory of Guam, for example are subject to a processing fee and several local taxes. While goods coming in from countries in the European Union are subject to additional international trade taxes, and an added value tax.

The goods themselves also determine the international trade taxes. Formulas change for produce, for computers and again for steel.

The rules covering international trade taxes are covered by several federal trade agreements, which were written by Congress. Some of these laws include the federal Trade Act of 1930, the Trade Act of 1974, the Trade Agreements Act of 1979 and the North American Free Trade Agreement. This tends to make the needed information harder to find. With the help of an experienced international trade tax lawyer, the process will be practically effortless. Click here for your free case review.

The Bureau of Customs and Border Protection is in charge of investigating violations of these treaties.

International trade tax lawyers can also help you defend your rights in the United States Court of International Trade, where problems dealing with international trade taxes, tariffs and customs duties are resolved.