What is mainly assessed during the reconciliation of the entry summary?

During the reconciliation of the entry summary, the primary focus is on customs duties and taxes. This process involves reviewing and verifying the accuracy of the declared values associated with imported goods to ensure that the correct amount of duties and taxes is collected by the customs authorities. It assesses whether the values entered match the expected calculations based on the tariff classification, quantity, and any applicable trade agreements or exemptions.

Reconciliation is necessary to confirm that all financial obligations regarding imports are met, as discrepancies can lead to underpayment or overpayment of duties. The customs authorities rely on this process to maintain compliance with trade regulations and ensure that there is a fair collection of revenue for the country’s treasury.