Samsung C&T America allegedly declared incorrect HTS tariff classifications on its customs entry documents.
A U.S. unit of the South Korean conglomerate Samsung (KSE: KRX:028260.KS) has agreed to pay $1 million to settle allegations it violated the False Claims Act by knowingly misclassifying imports to evade customs duties.
According to the U.S. Department of Justice, Samsung C&T America knowingly filed customs entry documents misdescribing and listing inaccurate U.S. Harmonized Tariff Schedule classification codes for footwear it imported from China and Vietnam.