Topic: US Tariff Ruling N297495 = 2.6% mandatory tariff on bitcoin mining hardware - page 3. (Read 26790 times)

I never claimed to not pay duty fees. They only charged the 2.6% and no additional fees. They were under the amount to meet informal entries, while also being above de minimis. If you have to go through formal entry, then you will definitely pay the higher fee unless you falsify the paperwork. If you go through customs as an informal entry, then it's up to the customs officer filling out the paperwork for how the fee is determined and their responsibility. Informal entries are liquidated at time of release from customs meaning that they can't come back or charge any additional fees. As soon as you pay the fee, it's liquidated and that's final. Customs determines the fee for informal entries and fills out all the paperwork. If they classify an informal entry wrong, then you luck out and pay a lower fee.

Formal entries are different. You, shipper, agent/broker, etc. fill out the paperwork for formal entries and attest to accuracy of classification and fees. Customs has over a year to review formal entries before liquidating. If they find errors with your classification prior to liquidation, they will come back and charge you the additional fees.

The only people I've seen getting hit with additional fees later are from formal entries that haven't been liquidated that were classified incorrectly by themselves, shipper, broker, etc., not already liquidated informal entries classified by customs. In all of my shipments since the Section 301 tariffs went into effect, it would appear that CBP's policy (at least in New York) is to not apply the tariffs on any informal entries, not just de minimis informal entries. FedEx's regulatory update on it interprets the CBP FAQ differently and says only de minimis informal entries are excluded. I would avoid using FedEx since their own brokers are the ones that got them in trouble for misclassification.

I've had multiple orders, all single miners that were informal entries above de minimis, and have yet to pay anything above 2.6%. They were all shipped by DHL. I recently ordered a T17 with coupon that meets de minimis and waiting to see how they interpret that.

No this is trump/tax/tariff war with China.

You guys have vat  to deal with.

I found this article on Oct 16th, 2019 and the tariffs.

https://www.scmp.com/business/china-business/article/2168679/they-were-minting-money-making-cryptocurrency-mining-gear

The 'interesting' line is how the USA classifies the ASIC MINERS as “electrical machinery apparatus” vs previously “data processing machine”.

(Unsure on another note how this affects USA Taxes in that when listed as a computer previously, I could take the 5-year deductible off 'computers' all in 1 year for the full 25% rather than the usual spread out off equipment depreciation, I THINK, it was over each year till 5 years...anyway this is an aside if anyone has clarity on such.) (doubtful)


So the key here is on these USA tariff exemptions you want to look for "electrical machinery apparatus" now...but that is so frigging broad now we are likely locked in until this whole China Tariff war is over, which may still take 1-2 years, IMHO.

Anyway, found this classification change, figured I'd point it out on the tariff. I was unaware no longer can be classified as a computer for USA tax equipment deductions.

For all, I know this NEW classification is better, if not for tariff, then for tax purposes. But the went to the trouble of actually CHANGING this, so again, IMHO it means something.

So it either means 1) same old same old or  2) something good or 3) something worse as regards to mining ASIC equipment purchases.

Hopefully, others on here have a better knowledge of such stuff above then myself and can post here on such.

later

Brad

Interesting. I suppose I have to pay 7% Minnesota Sales Tax. I suppose I learned something.

thanks

Brad

you may have to pay the 2.7%   but I can cope with that  and the 6.75% NJ state sales tax.

but 25%  + 2.7% + 6.75% = 34.45%

soon to be

35% + 2.7% + 6.75% = 44.45%

if I choose anything but the s9k.

So $800.00 USD, or below is Tax-Exempt from the full tariff or just the import fees?

Re-Read above and going to assume you only pay the 2.7% import fees on such.

hmmmm..interesting

not a damn lot to choose from but interesting

brad

two s9k. Are 620 plus 178 shipping or 798 therefore tax exempt .

You will need to find a psu state side or like me have 10 or 20 sitting on a rack doing nothing.

I gather by the above you mean there is a minimum that tariffs do not apply?

Or has that boat sailed as well? (Of, course, does not apply to us, and the USA, but figured I'd ask, anything we get is well over that limit if it exists, anyway)

I don't suppose with the new tariffs, we can get an exempt like some technology companies are trying to do?

Not exactly sure why I'm even bothering trying to follow this 'snipe hunt' anyway. Even without the soon to be Septemeber 1st, 2019 increase in tariffs by 10% to a total of 37.6% with import fees, that any of this mining ASIC equipment of any flavor of any algorithm, be it BTC/LTC or whatever, would make sense on this FOMO pump anyway. Guess it is just a habit.

Anyway, if there is STILL a minimum where USA tariffs don't apply, let me/us here know. Unlikely to matter, but would be good just to know.

(I need a better hobby, then following dubious ASIC miner purchases and how they interact with dubious USA tariffs)

sheesh

Brad

Unless it's under de minimis.

They do, they are worse than Fedex. DHL withold a miner from the shipment until they received the their fee.

Hey friend, I may be buying some of antminer ASICS soon.

I was wondering if DHL ever hit you up for the duty fees?

I really appreciate any info you might have!   

not going to happen we won't be at a diff of 19 by dec 31.

Barring a price of 20k for coins.

a diff of 19k means  all s9's will be turned off if coins are 10k    there are at least 35-45eh of the current 75eh   it more then ½ the network.

at 19 diff price of 10500 the s9's are worthless at 4 cent power.  So the network would need to add a ton of new gear and drop all the s9's

of course if price is 20k  s9's are still good and diff could 2x by jan

This should be a great help to China. It's not like they are buying U.S. made ASICs.
What a moron Trump is.

At this point any loophole is moot unless you can find s (omeone in Mexico trustworthy ship it there and then drive it into the USA in that manner.

(Damn, unlikely) Alas!

10% additional tariff to China announcement below:

https://www.cnbc.com/2019/08/01/trump-says-us-will-impose-10percent-tariffs-on-300-billion-of-chinese-goods-starting-september-1.html

So now we are at 36.7%, with the previous 25% tariff and 2.6% regular import fees. Thus this added 10% tariff starting Septemeber 1st,  on Chinese ASIC miners of any flavor.

I'm not sure what price of BTC or any crypto altcoin would have to be at the current difficulty in the USA would 'float the boat'. Add pre-orders to this and no way to any indeed!

A buddy says he also expects, regardless of the above, that BTC difficulty will double by the end of this year.

Sheesh.

Yeah oh well. I agree that is a closed loopHole.

Found this on google, it is basically referring to the 'past' tariff's with Mexico and Canada on such. Also future EU actions.

https://pasquines.us/2018/03/15/trumps-trade-war-would-affect-puerto-rico/

So even though you said NO guessing, I'd find it hard to believe that if those apply, China would get a pass.

will keep looking

Brad

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Well found this: Seems that USA custom rules apply. So the tariff would be a go, just like the rest of the USA in Puerto Rico.

https://en.portal.santandertrade.com/international-shipments/puerto-rico/customs-procedures

So my guy in Clifton wants 50k in new gear.

He has trust worthy people in the PR

So if he brings in 50k to Puerto Rico is that the USA?

No guessing.  I know that the PR was subject to weird import rules when they were getting aid for the Hurricane.  Trump had to waive some bizarre thing. That waiver is over.

So maybe that rule would help anyone that has a PR connection for shipping.

Could help a lot of people here if it is a clean loop hole.

Chances aren't likely many receive a demo at zero cost but technically duties (with tariff) are subject to 27.6% of unit cost times unit quantity. Maybe free is free but without researching further myself, I might expect duties to be due on the CI value. Regardless either way is deal on a unit.

Anyone seen any 'experts' on this 25% policy being reversed soon? Not saying at the current difficulty with Bitcoin and other Crypto Coins, it still would make a lot of sense to get an ASIC POW miner of any crypto flavor. But damn, this 25% import tariff kills that idea, dubious or not, deader than dead, as soon as a 'concept' of such crosses my mind!

I'd like to think it was going to happen from current progress within the last month at most say 2 months from now. But that is a wild and half-assed guesses/hopes/whatever.

Anyway, just tossing it out there. Hopefully, folk are more on the ball progress than me on here and can post some links.

Brad

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Just an aside. IF you managed to get say a 'demo' unit from an ASIC manufacturer inside China to send you a unit FREE for review. (yes, I mean this for you Philipma1957, I'd never have your luck)..but anyway, if the unit was free, there would be no 'tariff' per se right? Now that might be too 'cute' but at least, if a trusted 'reviewer' of this 'demo' ASIC product, IF you did keep such after the 'review'. You would only have to pay the 'retail price' in that the tariff, did not apply? (again, sketchy and unlikely, but worse that would happen is you'd pay the tariff on your demo unit before or after the fact....looking for an 'angle' here dubious or not) (Note: This only applies to Philipma1957 us other 'non-solar' minions don't approach his god-like powers to pull this off)

But again, how do 'tariffs' apply to goods that are sent to say the press/or to be tested at U.L. labs or above? Free is Free right? Thus, NO tariffs?

My guess would be that it is primarily FedEx and customs discovered they classified large amounts of orders incorrectly. Other shippers either classified correctly, entries liquidated already, or they are eating it themselves. If you look at the paperwork the last guy posted, FedEx is listed as the importer of record and they certified the accuracy. Importer of record is liable for taxes and duties, but customs can go after the ultimate consignee. These letters show that customs is going after FedEx though. In return, FedEx is sending letters stating that additional duties may be charged.

The interesting thing in the last guy's situation is that FedEx received the notice from customs in April showing that a rate advance has been taken. FedEx claims they will pay it and then bill him if they receive a bill, but show no proof they actually received a bill or paid it. 19 CFR 152.2 only allows the importer of record 20 days from the date customs mailed Form 29 to dispute why the rate advance should not be taken, otherwise it's then liquidated with the new rate. These letters do not indicate whether FedEx disputed it and ultimate consignee was notified by FedEx more than 20 days after FedEx received Form 29, yet they want you to pay $75 to dispute it after they no longer can, indicating the shipment has already been liquidated, as their formal protest citation is for liquidated entries. They also list the liquidation date as 00/00/0000 probably to cause further confusion to get you to pay.

For small amounts I'd just pay, but if it was something large, I'd consider ignoring FedEx's requests. Once FedEx has already paid it and it's liquidated, customs is not coming after you. It'd be a different story if customs sent Form 29 to you directly. FedEx can try to collect from you somehow or even refuse to ship to you, but unless they showed proof they actually paid the rate advance, I wouldn't pay them a penny more. Being a large company, it's possible they could have easily worked out a deal with customs to settle all of these incorrect classifications for a lesser amount than what was actually owed and are now just trying to recoup their expenses by sending letters to customers.