The high-value nature of integrated circuit equipment components is acknowledged. Our company plans to import a batch of R&D spare parts. Will they undergo Customs valuation and are there simplified procedures available?

In situations where samples or gifts are provided free of charge by the foreign party and the transaction price cannot be determined, the Customs, following the provisions of Article 6 of the Measures of the Customs of the People's Republic of China for the Determination of the Customs Value of Imported and Exported Goods, will determine the Customs value of the imported goods after gathering relevant information and consulting with taxpayers regarding value. According to Article 48, the Customs may, upon the taxpayer's written request, skip price questioning and negotiations. Instead, they will directly determine the Customs value of imported and exported goods using the simplified valuation procedure in the following circumstances: (1) goods are imported or exported in repeated shipments under the same contract and Customs has determined the dutiable value of goods in one of the previous shipment; (2) the Customs value of imported or exported goods is below 100,000 yuan ($14,060) or the total amount of the Customs duties and import taxes levied by Customs is below 20,000 yuan; (3) import or export goods are by nature hazardous goods, fresh live goods, perishable goods, vulnerable goods, wasted, and used goods.