Unlocking the Secrets: How to Determine the Fair Market Value of Imported Cars

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In this video, the topic of determining the fair market value of imported cars in the context of customs brokerage and International Trade is discussed. The fair market value is important for compliance with customs regulations, calculating duties and taxes, and assessing the overall value of the imported vehicle. The video covers various methods of determining fair market value, including the transaction value method, the identical or similar goods method, and the deductive value method. It also highlights additional considerations such as the date of importation, currency conversion, and the importance of maintaining supporting documentation. Working with a customs broker is recommended for accurate valuation and assistance with customs regulations and paperwork.
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Video Disclaimer Here: For educational purposes - No affiliation with US government sectors.

00:58 - Methods for Determining fair market value
01:12 - Transaction Value Method
01:31 - Identical or Similar Goods Method