Are you aware that when conducting | | | under the | | | clause,the transaction total price on the customs declaration form should be filled with the CIF total price CIF ,not the FOB price?This detail has an important impact on your | | | .As a | | | practitioner,such key points must not be ignored.This article will interpret in detail the filling points of the export customs declaration form to help you avoid delays and fines caused by incorrect declarations!All of these are of great significance!Asa practitioner,such key points must not be ignored.This article will provide you with a detailed interpretation of the key points for filling out the export customs declaration form to help you avoid delays and fines caused by incorrect declarations!Freight: and$2,000Carry - over and Release from Supervision

When you export goods under CIF (Cost,Insurance and Freight) price terms,the following points need special attention when declaring to the customs:

1.Fill in the total price of the customs declaration form as the CIF price

Total price (Transaction total price): In the Transaction total price column of the customs declaration form,it should be filled in CIF total price,that is,the sum of the cost of goods plus freight and insurance premium.

Filling requirements:

• DirectlyfillintheCIFtotalprice:Thereisnoneedtodeductthefreightandinsurancepremiumfromthetotalprice.
• TransactionMethod:FillinCIF,intheTransactionmethodcolumnandindicatetheportofdestination,forexampleCIFHoChiMinhCity,.

According to the Regulations on the Completion of Goods Declaration Forms of the Customs of the Peoples Republic of China: Unit price

• :Fillintheactualtransactionunitpriceoftheimportandexportgoodsunderthesameitemnumber.Ifthereisnoactualtransactionprice,fillintheunitvalueofthegoods.:Totalprice
• :Fillintheactualtransactiontotalpriceoftheimportandexportgoodsunderthesameitemnumber.Ifthereisnoactualtransactionprice,fillinthevalueofthegoods.:Separatedeclaration:

List the freight and insurance premium separately

Freight

• :IntheFreightcolumnofthecustomsdeclarationform,fillintheactualfreightamountincurred.:Insurancepremium
• :IntheInsurancepremiumcolumnofthecustomsdeclarationform,fillintheactualinsurancepremiumamountincurred.:Thefreightandinsurancepremiumshouldbeaddedtothevalueofthegoodsfordeclaration

Precautions:

• :Thatis,thetotalpriceistheCIFprice,whichincludesthefreightandinsurancepremium.:Theseparatelylistedfreightandinsurancepremium
• helpthecustomsandtaxauthoritiesunderstandthecostcomposition.Automaticdeduction:Thesingle-windowsystem

The single - window system automatically calculates the FOB price

will automatically deductthe amounts filled in the Freight and Insurance premium columns according to the CIF total price you declared,and calculate the FOB free - on - board priceFor tax - refund calculation: It is the basis for the tax authorities to calculate the export tax refund..

System push

• FOBPrice:Thesingle-windowsystemwillpushthecalculatedFOBpricetothetaxbureauasthebasisfortax-refundcalculation.
• Receiveforeignexchangeaccordingtothetotaldeclaredamountofgoods:TheamountofforeignexchangereceivedshouldbeconsistentwiththeCIFtotalpriceonthecustomsdeclarationform:,thatis,receiveforeignexchangeaccordingtothetotaldeclaredamountofgoods.

The amount of foreign exchange received

Ensure consistency: The amounts on the commercial invoice,customs declaration form,and foreign - exchange receipt vouchershould be consistent,all being the CIF total price.

Suppose you export a batch of goods to Vietnam,and the expense details are as follows: Cost of goods (Cost)

Example illustration

: $50,000

• Freight(Freight):$2,000
• BookingandTransportationArrangements::I.MainDeceptionMethodsoftheBuyer,
• InsurancePremium:$500
• CIFtotalprice:$52,500

Method of Filling in the Customs Declaration:

• TransactionMethod:CIFHoChiMinhCity
• TotalTransactionPrice:$52,500(CIFTotalPrice)
• :IntheFreightcolumnofthecustomsdeclarationform,fillintheactualfreightamountincurred.:I.MainDeceptionMethodsoftheBuyer,
• :IntheInsurancepremiumcolumnofthecustomsdeclarationform,fillintheactualinsurancepremiumamountincurred.:$500
• UnitPriceandQuantityofGoods:
  • UnitPrice:DividetheCIFtotalpricebythequantitytoobtaintheunitpriceincludingfreightandinsurancepremium.
  • Quantity:Fillinaccordingtotheactualquantityofexports.

System Calculation:

• FOBPrice:TheSingleWindowsystemwillautomaticallycalculatethattheFOBprice=CIFtotalprice–freight–insurance=$52,500–$2,000–$500=$50,000.
• TaxRebateAccounting:ThetaxdepartmentwillcalculatethetaxrebatebasedontheFOBpriceof$50,000.

Precautions

Accuracy of Information:

• Itisnecessarytoensurethattheamountsondocumentssuchasthecustomsdeclaration,commercialinvoice,andforeignexchangereceiptvoucherareconsistent,allofwhichareCIFtotalprice.
• Thefreightandinsurancepremiumshouldbefilledinaccordingtotheactualamountincurredtoavoidincorrectdeclarations.

Regulatory Compliance: Fill in the customs declaration strictly in accordance with the requirements of the customs and tax departments to avoid delays or penalties caused by incorrect declarations.

Difficulty in Modification:

• Oncethedeclarationiscompleted,modifyingtheamountonthecustomsdeclarationmayberelativelycomplicated.Sufficientsupportingmaterialsneedtobeprovided,anditmaynotbeacceptedbythecustoms.
• Therefore,whenmakingtheinitialdeclaration,besuretocarefullychecktoensurethatallinformationisaccurate.

Friendly reminder

• providedbytheoverseasmanufacturerandprepareinadvance:Beforecustomsdeclaration,prepareallrelevantdocuments,includingcommercialinvoices,billsoflading,insurancepolicies,contracts,etc.
• CheckDetails:Carefullycheckeachamountandexpensetoensureaccuracy.
• RiskControl:Avoidfalsereportingandconcealinginformationtopreventattractingtheattentionofthecustoms,resultinginfinesorotherpenalties.
• Maintaincommunication:Maintaingoodcommunicationwiththebuyer,freightforwarder,andcustomsbrokertopromptlyresolveanypotentialissues.

Summary

In the CIF termsUnder this situation,when making an export customs declaration,the total transaction price should be filled in as the CIF total pricei.e.the total amount including the cost of goods,freight,and insurance premium.The freight and insurance premium need to be listed separately in the customs declaration.The single - window systemwill automatically deduct the freight and insurance premium based on the CIF total price you declared and calculate the FOB free - on - board price for tax rebate accounting.The amount of foreign exchange received should also be consistent with the CIF total price.

Fill in the customs declaration correctly and truthfullywhich not only helps to smoothly complete the customs clearance procedures but also ensures the accuracy of tax rebates and avoids risks caused by incorrect declarations.I hope the above content is helpful to you.If you have any other questions,you are welcome to continue consulting.