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... the amounts not less than $ 100, when the engines are exported (section 1313 (h) drawback). 19. If imported merchandise is exported without being used, or destroyed under Customs supervision, 99 percent of the duties paid on the merchandise may be recovered as drawback (section 1313 (j) drawback). If merchandise that is commercially interchangeable with imported merchandise is exported or destroyed under Customs supervision and at the time of exportation or destruction has not been used, 99 percent of the duties on the merchandise may be recovered as drawback (section 1313 (j) drawback). Packaging material used to package merchandise exported or destroyed under section 1313 (a), (b), (c), or (j), may receive 99 percent of the duties paid on the packaging materials as drawback (section 1313 (q) drawback).
As most manufacturers are interested in sections 1313 (a) and (b), only the procedures for obtaining drawback under these provisions are discussed. The purpose of drawback is to enable a manufacturer to compete in foreign markets. To do so, however, the manufacturer must know, prior to making contractual commitments, that he will be entitled to drawback on his exports. The drawback procedure has been designed to give the manufacturer this assurance and protection. To obtain drawback, first prepare a drawback proposal (statement) and file it with a Regional Commissioner of Customs for section 1313 (a) drawback and with the Entry Rulings Branch, Customs headquarters, for other types of drawback, including combination 1313 (a) and (b) drawback.
There are currently several general drawback contracts available (orange juice, steel, sugar, component parts, and greige goods) which eliminate the need for submission of a proposal. These have been published in the Customs Bulletin and Decisions with instructions as to the procedure for adhering to them. A simple drawback proposal to serve as a model may be obtained from regional commissioners for section 1313 (a) drawback. For other types of drawback, including combination 1313 (a) and (b), write to: U.
S. Customs Service, Entry Rulings Branch, 1301 Constitution Ave. , NW, Franklin Court, Washington, D. C. , 20229, or call 202 - 482 - 7040. The U. S. Customs Service also maintains an Internet site at web upstream.
gov. The approval of section 1313 (a) proposal takes the form of a letter from a Regional Commissioner of Customs to the applicant. The approval of a section 1313 (b) drawback proposal takes the form of a letter from U. S. Customs Service headquarters to the Regional Commissioner of Customs where the applicant will file claims. The applicant receives a copy of this letter.
Synopses of all contracts are published in the Customs Bulletin and Decisions The proposal and approval together are called a drawback contract or drawback rate. If the manufacturer desires to have his contract (rate) changed in any way, he should file a new proposal (statement) and the procedure is the same as above. Claims must be filed within three years after the exportation of the articles. To prevent tolling by the statute of limitations, a claim may be filed before a drawback contract (rate) is effective, although no payments will be made until the contract is approved. For completion of same condition It is necessary for a drawback claimant to establish that the articles on which drawback is being claimed were exported within five years after importation of the imported merchandise which is the basis for the drawback.
In the case of same condition drawback, the time period for exportation is three years after importation. There are three methods which can be used to do so, and these are described in sections 191. 51 through 191. 56 of the Customs Regulations. Before exporting, a future claimant should make certain that he is taking the necessary steps to comply with one of these procedures. Export of qualified U.
S. -made petroleum products may be shown by matching production at a specific refinery with exports of qualified petroleum of the same kind and quality that occur within 180 days after the refinery produced the designated petroleum product. Export of qualified imported petroleum products may be shown by matching the amount imported with exports of qualified petroleum products of the same kind and quality that occur within 180 days after the import (section 1313 (p) drawback). When a claim has been completed by the filing of all required documents, the entry will be liquidated by the Regional Commissioner of Customs to determine the amount of drawback due. Drawback is payable to the exporter unless the manufacturer reserves to himself the right to claim the drawback. Accelerated payment of drawback under certain conditions is authorized by section 192. 72 of the Customs Regulations. Accelerated payment generally will ensure that a claimant will receive his drawback no later than two months after he files a claim.
Accelerated drawback currently applies to same condition drawback. Effect of the North American Free Trade Agreement The North American Free Trade Agreement (NAFTA) provisions on drawback will apply to goods imported into the United States and subsequently exported to Canada on or after January 1, 1996. The NAFTA provisions on drawback will apply to goods imported into the United States and subsequently exported to Mexico on or after January 1, 2001. Under the NAFTA, the amount of Customs duties that will be refunded, reduced, or waived is the lesser of the total amount of Customs duties paid or owed on the finished good in the NAFTA country to which it is exported, for purposes of sections 1313 (a), (b), (f), (h), and (g). No NAFTA country, on condition of export, will refund, reduce, or waive the following: antidumping or countervailing duties, premiums offered or collected pursuant to any tendering system with respect to the administration of quantitative import restrictions, tariff rate quotas or trade preference levels, or a fee pursuant to section 22 of the U. S.
Agricultural Adjustment Act. Moreover, same condition substitution drawback was eliminated as of January 1, 1994. Exporters should also consider the customs privileges of U. S. foreign-trade zones. These zones are domestic U.
S. sites that are considered outside U. S. customs territory and are available for activities that might otherwise be carried on overseas for customs reasons. For export operations, the zones provide accelerated export status for purposes of excise tax rebates and customs drawback. For import and reexport activities, no customs duties, federal excise taxes, or state or local ad valorem taxes are charged on foreign goods moved into zones unless and until the goods, or products made from them, are moved into customs territory.
This means that the use of zones can be profitable for operations involving foreign dutiable materials and components being assembled or produced here for reexport. Also, no quota restrictions ordinarily apply to export activity. There are now 217 approved foreign-trade zones in port communities throughout the United States. Associated with these projects are some 356 sub zones. These facilities are available for operations involving storage, repacking, inspection, exhibition, assembly, manufacturing, and other processing.
More than 2, 800 business firms used foreign-trade zones in fiscal year 1995. The value of merchandise moved to and from the zones during that year exceeded $ 143 billion. Export shipments from zones and sub zones amounted to nearly $ 17 billion. Information about the zones is available from the zone manager, from local Commerce Export Assistance Centers, or from the Executive Secretary, Foreign-Trade Zones Board, International Trade Administration, U. S.
Department of Commerce, Washington, D. C. 20230. Foreign Free Port and Free Trade Zones To encourage and facilitate international trade, more than 300 free ports, free trade zones, and similar customs-privileged facilities are now in operation in some 75 foreign countries, usually in or near seaports or airports. Many U. S. manufacturers and their distributors use free ports or free trade zones for receiving shipments of goods that are reshipped in smaller lots to customers throughout the surrounding areas.
For further information, contact your local Department of Commerce Export Assistance Center or the Trade Information Center (1 - 800 - 872 - 8723). A Customs bonded warehouse is a building or other secured area in which dutiable goods may be stored, manipulated, or undergo manufacturing operations without payment of duty. Authority for establishing bonded storage warehouses is set forth in Title 19. United States Code (U. S. C. ) section 1555.
Bonded manufacturing and smelting and refining warehouses are established under Title 19, U. S. C. , sections 1311 and 1312. Upon entry of good into the warehouse, the importer and warehouse proprietor incur liability under a bond. The liability is canceled when the goods are: o Withdrawn for supplies to a vessel or aircraft in international traffic; o Destroyed under Customs supervision; or o Withdrawn for consumption within the United States after payment of duty. Nine different types or classes of Customs bonded warehouses are authorized under section 19. 1, Customs Regulations (19 CFR 19. 1): 24.
Premises owned or leased by the government and used for the storage of merchandise that is undergoing Customs examination, is under seizure, or is pending final release from Customs custody. Unclaimed merchandise stored in such premises shall be held under "general order. " When such premises are not sufficient or available for the storage of seized or unclaimed goods, such goods may be stored in a warehouse of class 3, 4, or 5; 25. Importers' private bonded warehouses used exclusively for the storage of merchandise belonging or consigned to the proprietor thereof. A class 4 or 5 warehouse may be bonded exclusively for the storage of goods imported by the proprietor thereof, in which case it should be known as a private bonded warehouse; 26. Public bonded warehouse used exclusively for the storage of imported merchandise; 27.
Bonded yards or sheds for the storage of heavy and bulky imported merchandise; stables, feeding pens, or corrals, or other similar buildings or limited enclosures for the storage of imported animals; and tanks for storage of imported liquid merchandise in bulk; 28. Bonded bins or parts of buildings or elevators to be used for the storage of grain; 29. Warehouses for the manufacture in bond, solely for exportation, of articles made in whole or in part of imported materials or of materials subject to internal revenue tax; and for the manufacture for home consumption or exportation of cigars made in whole of tobacco imported from one country; 30. Warehouses bonded for smelting and refining imported metal-bearing materials for exportation or domestic consumption; 31. Bonded warehouses established for the cleaning, sorting, repacking, or otherwise changing the condition of, but not the manufacturing of, imported merchandise, under Customs supervision, and at the expense of the proprietor; 32. Bonded warehouses, known as duty-free stores, used for selling conditionally duty-free merchandise for use outside the Customs territory.
Merchandise in this class must be owned or sold by the proprietor and delivered from the warehouse to an airport or other exit point for exportation by, or on behalf of, individuals departing from the Customs territory for foreign destinations. Advantages of Using a Bonded Warehouse There are several advantages of using a bonded warehouse. No duty is collected until merchandise is withdrawn for consumption. An importer, therefore, has control over use of money until the duty is paid upon withdrawal of merchandise from the bonded warehouse. If no domestic buyer is found for the imported articles, the importer can sell merchandise for exportation, thereby canceling his obligation to pay duty. Many items subject to quota or other restrictions may be stored in a bonded warehouse.
Check with the nearest Customs office before assuming that such merchandise may be placed in a bonded warehouse. Duties owed on articles that have been manipulated are determined at the time of withdrawal from the Customs bonded warehouse. Merchandise: Entry, Storage, Treatment All merchandise subject to duty may be entered for warehousing except perishables and explosive substances other than firecrackers. Full accountability for all merchandise entered into a Customs bonded warehouse must be maintained; that merchandise will be inventoried and the proprietor's records will be audited on a regular basis.
Bonded merchandise may not be commingled with domestic merchandise and must be kept separate from unbonded merchandise. Merchandise in a Customs bonded warehouse may, with certain exceptions, be transferred from one bonded warehouse to another in accordance with the provisions of Customs Regulations. Basically, merchandise placed in a Customs bonded warehouse, other than class 6 or 7, may be stored, cleaned, sorted, repacked, or otherwise changed in condition, but not manufactured (Title 19, U. S. C. , section 1562). Articles manufactured in a class 6 warehouse must be exported in accordance with Customs Regulations.
Waste or byproduct from a class 6 warehouse may be withdrawn for consumption upon payment of applicable duties. Imported merchandise may be stored in a Customs bonded warehouse for a period of five years (Title 19, U. S. C. , section 1557 (a) ).
How to Establish a Customs Bonded Warehouses An owner or lessee seeking to establish a bonded warehouse must make written application to his or her local Customs port director describing the premises, giving the location, and stating the class of warehouse to be established. Except in the case of a class 2 or 7 warehouse, the application must state whether the warehouse is to be operated only for the storage or treatment of merchandise belonging to the applicant, or whether it is to be operated as a public bonded warehouse. If the warehouse is to be operated as a private bonded warehouse, the application must also state the general character of the merchandise to be stored therein, with an estimate of the maximum duties and taxes that will be due on the merchandise at any one time. The application must be accompanied by the following: A certificate signed by the president or a secretary of a board of fire underwriters that the building is a suitable warehouse and acceptable for fire insurance purposes. At ports where there is no board of fire underwriters, certificates should be obtained and signed by officers of agents of two or more insurance companies. A blueprint showing measurements to be bonded.
If the warehouse to be bonded is a tank, the blueprint shall show all outlets, inlets, and pipelines and shall be certified as correct by the proprietor of the tank. A gauge table showing the capacity of the tank in U. S. gallons per inch or fraction of an inch of height, shall be included and certified by the proprietor as correct. When a part or parts of the building are to be used as a warehouse, a detailed description of the materials and construction of all partitions shall be included.
Bonds for each class of warehouse shall be executed on Customs Form 301. Duty-free shops (class 9) have specific requirements governing their establishment. These requirements include location, exit ports, record-keeping systems, and the approval of local governments. The U.
S. Customs Service has more than 300 ports of entry in the United States, Puerto Rico, and the U. S. Virgin Islands. Please consult your local telephone directory under "U. S.
Treasury Department, Customs Service. " One of the most important steps a U. S. exporter can take to reduce federal income tax on export-related income is to set up a foreign sales corporation (FSC). This tax incentive for U. S. exporters replaced the domestic international sales corporation (DISC), except the interest charge DISC.
While the interest charge DISC allows exporters to defer paying taxes on export sales, the tax incentive provided by the FSC legislation is in the form of a permanent exemption from federal income tax for a portion of the export income attributable to the offshore activities of Fsc's (26 U. S. C. , sections 921 - 927). The tax exemption can be as great as 15 to 30 percent on gross income from exporting, and the expenses can be kept low through the use of intermediaries who are familiar with and able to carry out the formal requirements. A firm that is exporting or thinking of exporting can optimize available tax benefits with proper planning, evaluation, and assistance from an accountant or lawyer. An FSC is a corporation set up in certain foreign countries or in U.
S. possessions (other than Puerto Rico) to obtain a corporate tax exemption on a portion of its earnings generated by the sale or lease of export property and the performance of some services. A corporation initially qualifies as an FSC by meeting certain basic formation tests. An FSC (unless it is a small FSC) must also meet several foreign management tests throughout the year. If it complies with those requirements, the FSC is entitled to an exemption on qualified export transactions in which it performs the required foreign economic processes. Fsc's can be formed by manufacturers, non manufacturers, or groups of exporters, such as export trading companies.
An FSC can function as a principal, buying and selling for its own account, or as a commission agent. It can be related to a manufacturing parent or it can be an independent merchant or broker. An FSC must be incorporated and have its main office (a shared office is acceptable) in the U. S. Virgin Islands, American Samoa, Guam, the Northern Mariana Islands, or a qualified foreign country. In general, a firm must file for incorporation by following the normal procedures of the host nation or U.
S. possession. Some nations, offer tax incentives to attract Fsc's. To qualify, a company must identify itself as an FSC to the host government. Consult the government tax authorities in the country or U. S.
possession of interest for specific information. A country qualifies as an FSC host if it has an exchange of information agreement with the United States approved by the U. S. Department of the Treasury. As of September 17, 1996, the qualified countries were Australia, Austria, Barbados, Belgium, Bermuda, Canada, Costa Rica, Cyprus, Denmark, Dominica, the Dominican Republic, Egypt, Finland, France, Germany, Grenada, Guyana, Honduras, Iceland, Ireland, Jamaica, Korea, the Marshall Islands, Malta, Mexico, Morocco, Netherlands, New Zealand, Norway, Pakistan, Peru, the Philippines, St. Lucia, Sweden, and Trinidad and Tobago.
Since the Internal Revenue Service (IRS) does not allow foreign tax credits for foreign taxes imposed on the FSC's qualified income, it is generally advantageous to locate an FSC only in a country where local income taxes and withholding taxes are minimized. Most Fsc's are incorporated in the U. S. Virgin Islands or Guam. The FSC (unless it is a small FSC) must have at least one director who is not a U.
S. resident, must keep one set of its books of account (including copies or summaries of invoices) at its main offshore office, cannot have more than 25 shareholders, cannot have any preferred stock, and must file an election to become an FSC with the IRS. Also, a group may not own both an FSC and an interest charge DISC. The portion of the FSC gross income from exporting that is exempt from U. S. corporate taxation is 30 percent for a corporate-held FSC if it buys from independent suppliers or contracts with related suppliers at an "arm's-length" price - a price equivalent to that which would have been paid by an unrelated purchaser to an unrelated seller.
An FSC supplied by a related entity may also qualify to use the special administrative pricing rules to compute its tax exemption. Although an FSC does not have to use the two special administrative pricing rules, these rules may provide additional tax savings for certain Fsc's. Small Fsc's and interest charge DISCs are designed to give export incentives to smaller businesses. The tax benefits of a small FSC or an interest charge DISC are limited by ceilings on the amount of gross income that is eligible for the benefits.
The small FSC is generally the same as an FSC, except that a small FSC must file an election with the IRS designating itself as a small FSC - which means it does not have to meet foreign management or foreign economic process requirements. A small FSC tax exemption is limited to the income generated by $ 5 million or less in gross export revenues. An exporter can still set up a DISC in the form of an interest charge DISC to defer the imposition of taxes for up to $ 10 million in export sales. A corporate shareholder of an interest charge DISC may defer the imposition of taxes on approximately 94 percent of its income up to the $ 10 million ceiling if the income is reinvested by the DISC in qualified export assets.
An individual who is the sole shareholder of an interest charge DISC can defer 100 percent of the DISC income up to the $ 10 million ceiling. An interest charge DISC must meet the following requirements: the taxpayer must make a new election; the tax year of the new DISC must match the tax year of its majority stockholder; and the DISC shareholders must pay interest annually at U. S. Treasury bill rates on their proportionate share of the accumulated taxes deferred. A shared FSC is an FSC that is shared by 25 or fewer unrelated exporter-shareholders to reduce the costs while obtaining the full tax benefit of an FSC.
Each exporter-shareholder owns a separate class of stock and each runs its own business as usual. Typically, exporters pay a commission on export sales to the FSC, which distributes the commission back to the exporter. States, regional authorities, trade associations, or private businesses can sponsor a shared FSC for their state's companies, their association's members, or their business clients or customers, or for U. S. companies in general. A shared FSC is a means of sharing the cost of the FSC.
However, the benefits and proprietary information are not shared. The sponsor and the other exporter-shareholders do not participate in the exporter's profits, do not participate in the exporter's tax benefits, and are not a risk for another exporter's debts. For more information about Fsc's, U. S.
companies may contact the the Office of the Associate Chief Counsel for International Commerce, U. S. Internal Revenue Service 202 - 622 - 3810; the Office of the Chief Counsel for International Commerce, U. S. Department of Commerce 202 - 482 - 0937; or a local office of the IRS. Intellectual Property Considerations Intellectual property refers to a broad collection of rights relating to such matters as works of authorship, which are protected under copyright law; inventions, which are protected under patent law; marks, which are protected by trademark law; as well as designs and trade secrets.
No international treaty completely defines these types of intellectual property, and the laws of the various countries differ from each other in significant respects. National intellectual property laws create, confirm, or regulate a property right without which others could use or copy a trade secret, an expression, a design, or a product or its mark and packaging. The rights granted by a U. S. patent, trademark registration, copyright, or mask work (semiconductor chip) registration extend only through the United States and its territories and possessions.
They confer no protection in a foreign country. There is no such thing as an international patent, trademark, or copyright. To secure rights in any country, you must apply for a patent or register a mask work or trademark in that country. Copyright protection depends on national laws, but registration is typically not required. There is no real "short cut" to worldwide protection of intellectual property.
However, some advantages and minimum standards for the protection and enforcement of intellectual property exist under treaties or other international agreements. International Agreements: The oldest treaty relating to patents, trademarks, and unfair competition is the Paris Convention for the Protection of Industrial Property. The United States and over 130 other countries are parties of this treaty. The Paris Convention sets minimum standards of protection and provides two important benefits: the right of national treatment and the right of priority. Overgeneralizing, "national treatment" means that a Paris Convention country will not discriminate against foreigners in granting patent or trademark protection. Rights may be greater or less than those provided under U.
S. law but the rights given will be the same as that country provides to its own citizens. An invention may become public and therefore un patentable in many countries, when a patent is issued or an application is laid open to inspection in any country. In addition, a delay in filing a patent or trademark application leaves open the possibility that those rights will be lost because of intervening acts such as sale of the invention or registration of the trademark by another. The Paris Convention's "right of priority" provides a solution to this problem by giving an inventor an alternative to filing applications in many countries simultaneously. It allows the applicant one year from the date of the first application filed in a Paris Convention country (six months for a design or trademark) in which to file in other countries.
Publication or sale of an invention after first filing will therefore not jeopardize patentability in countries which grant a right of priority to U. S. applicants. Not all countries adhere to the Paris Convention but these benefits may be available under another treaty or bilateral agreement.
These substantive obligations have been incorporated into the World Trade Organization (WTO) Agreement on Trade Related Aspects of Intellectual Property (TRIPs), by reference for adherence by WTO members. The United States is also a party to the Patent Cooperation Treaty (PCT), which provides procedures for filing patent applications in its member countries. The PCT allows an applicant to file one "international application" designating member countries in which a patent is sought, with the same effect as filing national applications in each of those countries. The applicant may then later proceed with the filing of separate "national" applications in those countries. The United States' international copyright regulations are governed principally by the Berne Convention for the Protection of Literary and Artistic Works ("Berne"), to which more than 120 other nations adhere.
The United States is also a member of the Universal Copyright Convention (UCC) and has special bilateral relations with a number of foreign countries. Under the Berne Convention, works created by a national of a Berne Union country, or works first or simultaneously published in a Berne country are automatically eligible for protection in every other country of the Berne Union, without registration or compliance with any other formality of law. This is true of works first published in the United States on or after March 1, 1989 the date on which the United States acceded to the Berne Convention. Works first published before March 1989 were protected in many countries by virtue of the United States' membership in the UCC, if published with the formalities specified in that convention. Older works may also be protected as a consequence of simultaneous publication in a Berne country, or by virtue of bilateral obligations. In any event, the requirements and protection available vary from country to country, and should be investigated before first publication anywhere.
North American Free Trade Agreement and Agreement on Trade-related Aspects of Intellectual Property: Both the North American Free Trade Agreement (NAFTA) and the Agreement on Trade-related Aspects of Intellectual Property (TRIPs) (which is under the auspices of the World Trade Organization) establish minimum standards for the protection and enforcement of intellectual property. Neither of these agreements bestow rights upon U. S. intellectual property owners. Rather, both agreements ensure that a member state that is party to one or both of these agreements provides a certain level of protection to those individuals or companies protected under that member state's laws. Patents: U.
S. patent law differs from the laws of most other countries in several important aspects. The U. S. patent law grants a patent to the first inventor even if another person independently makes the invention and files an application first. Most other countries award the patent to the inventor who first files a patent application.
The United States also provides a one-year "grace period" that does not preclude an inventor from obtaining protection after an act such as publishing, offering for sale, or using the invention which would make the invention public. Many countries, including most European countries, lack such a grace period to allow an inventor to so disclose the invention prior to filing a patent application. In countries with an "absolute novelty" rule, a patent application must be filed before making the invention public anywhere. Hence, even the publication of an invention in a U.
S. patent grant is a disclosure that can defeat the right to obtain foreign patents, unless the applicant is entitled to claim the "right of priority" under the Paris Convention, as described. Unlike the United States, many countries require that an invention be "worked" locally to retain the benefit of the patent. "Working" may require commercial-scale manufacture within the country, or may be met by importation of goods covered by the patent, depending on a particular country's law. The Paris Convention permits penalties for nonworking, which may include a compulsory license at a reasonable royalty followed by possible forfeiture of the patent for continuing to fail to work an invention.
For an invention made in the United States, U. S. law prohibits filing abroad without a foreign filing license from the Patent and Trademark Office unless six months have elapsed since filing a U. S. application. This prohibition protects against transfer of information which might damage the national security.
The penalties for filing abroad without following these requirements range from loss of U. S. patent rights to possible imprisonment if classified information is released. In addition, other export control laws require that a license be obtained prior to the export of certain technologies, even if no patent application is filed, or bar their export altogether. Trademarks: A trademark is a word, symbol, or device which identifies and distinguishes the source of sponsorship of goods and may serve as an index of quality. Service marks perform the same function for businesses dealing in services rather than goods.
For example, an airplane manufacturer might register its service mark. In the United States, rights to trademarks, service marks, and other marks such collective marks are acquired through use or prior foreign registration. However, in most countries, trademark rights are acquired only through registration, and many countries require local use of the registered mark to maintain the registration. Whether a given mark can be registered in a particular country will depend on the law of that country. For example, some countries do not protect service marks.
The United States is not a member of any agreement under which a single filing will provide international protection, although the right of priority under the Paris Convention confers a substantial benefit. Expanding businesses sometimes face a period of time in which their mark may be known and perhaps registered in the United States, but they are not quite ready to do business abroad. It is prudent to decide early where trademark protection will be needed and to protect rights by filing in those countries. Where to file is a business decision, balancing the expense of registration against its benefit. At a minimum, you will want to file in countries in which you will do business. You may also find it desirable to file in countries which are known sources of counterfeit goods, although some require local use to maintain a r
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Research essay sample on Trade Agreement Nafta North American Free Trade Agreement
