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Is the U.S. import duty assessed on the CIF value (cost, insurance, freight) or FOB or some other basis?
Duty is not assessed on freight and insurance charges. CBP value is determined based on the Price Paid or Payable for the goods, which is usually on the bill of sale or invoice and bill of lading as the FOB price. The CIF price which is the price paid for the goods including freight and insurance is not the value to declare for CBP purposes. For additional information on transaction value exclusions, please reference the CBP Value, Informed Compliance Publication on our web site.
Customs & Border Protection (CBP), Department of Homeland Security
http://www.cbp.gov/
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