Customs Registered Specialist flashcards

33 cards. Read the term and the definition here. The deck at the top of this page is optional.

Customs debt

The obligation of a person to pay the amount of import or export duty corresponding to goods under a customs procedure; it arises on release for free circulation or on export.

Binding tariff information

An advance classification decision issued by customs that binds the administration for a fixed period, typically three years, for goods described in the ruling.

General Interpretative Rule 1

Classification is determined by the heading terms and the section or chapter notes; the other rules apply only if those terms and notes do not resolve the classification.

Essential character

The GIR 3(b) test used for mixtures and composite goods, identifying the component that gives the goods their distinguishing nature, often by value, weight or function.

GIR 3(c) last heading

When specificity and essential character cannot decide between two or more headings, the goods are classified in the heading that occurs last in numerical order.

Transaction value

The price actually paid or payable for goods sold for export to the importing country, adjusted by the Article 8 additions and permitted deductions.

Assists

Materials, components, tools, dies or engineering services supplied by the buyer free of charge or at reduced cost for use in producing the imported goods, added to the customs value.

Deductive value method

A valuation method starting from the resale price of the imported goods in the importing country, deducting resale profit, transport, duties and taxes.

Wholly obtained goods

Goods produced entirely in one country, such as minerals extracted there, live animals born and raised there, or fish caught by its registered vessels.

Change in tariff classification

A product-specific origin rule requiring non-originating materials to be classified in a heading or subheading different from that of the finished good.

De minimis rule

A tolerance allowing a small percentage of non-originating materials to fail the applicable change-in-classification rule while the good still qualifies as originating.

Direct consignment rule

Origin preference requires goods to be transported directly from the exporting party, or through third countries without operations other than unloading, reloading and preservation.

Cumulation

A rule allowing materials originating in a partner country or processing carried out there to count as originating when determining the origin of the final good.

Proof of origin

A document or declaration, such as a certificate of origin or an approved exporter statement, evidencing that goods meet the origin rules of a trade agreement.

Tariff rate quota

A two-tier tariff mechanism allowing a limited quantity of goods at a reduced in-quota rate, with quantities above the quota paying the higher out-of-quota rate.

Incoterms 2020

Standard trade terms (FOB, CIF, DAP and others) that allocate costs, risks and delivery obligations between seller and buyer but do not set customs value.

Bill of lading

A transport document issued by the carrier that serves as receipt of goods, evidence of the carriage contract, and, when negotiable, a document of title.

ATA Carnet

An international customs document permitting temporary duty-free admission of professional equipment, samples and exhibition goods for up to one year without national guarantees.

Declaration acceptance

The moment customs accepts the lodged declaration; it fixes the applicable duty rate, exchange rate and customs value for the transaction.

Supplementary declaration

A declaration lodged after release under simplified procedures, completing the particulars omitted at entry and finalizing the customs debt.

Post-clearance audit

A risk-based control conducted after release, examining the trader's records to verify the accuracy of declarations, classification, valuation and origin claims.

Landed cost

The total cost of imported goods at the destination, comprising customs value, duty, non-recoverable import VAT, excise, fees and inland transport.

Inward processing

A suspensive procedure allowing goods to be imported without duty for processing and subsequent re-export, subject to authorisation and an economic test.

Duty drawback

A refund of import duties paid on materials or components that are subsequently used in the manufacture of exported goods, subject to evidence and time limits.

Import VAT

A tax levied on importation, usually on the customs value plus duty and transport costs, collected by customs but distinct from the customs duty itself.

Voluntary disclosure

A trader's self-report of a declaration error before customs notifies an audit; it generally mitigates penalties and supports a compliance record.

Administrative appeal

The first stage of dispute resolution, in which a higher customs authority reviews a contested decision before any judicial proceedings may be brought.

Authorised Economic Operator

A status granted to compliant traders meeting record-keeping, solvency and security standards, conferring reduced inspections and priority treatment in customs procedures.

Customs warehousing

A special procedure under which non-Union goods are stored without payment of duty; the debt arises when the goods are removed for free circulation.

Temporary admission

A procedure permitting duty-free import of goods intended for re-export within a set period, such as samples, professional equipment or means of transport.

Common transit

A procedure allowing goods to move between contracting parties under a single guarantee, discharged only when the goods reach the office of destination.

Trade Facilitation Agreement

The WTO agreement in force since 2017 requiring publication of procedures, advance rulings, risk management and single windows to reduce border delays.

Mutual recognition of AEO

An agreement between customs administrations recognizing each other's authorised operator programmes, so certified traders receive benefits in both jurisdictions.