Which ONE of the following statements concerning penalties under section 592, Tariff Act of 1930, as amended, is NOT correct?
A) The maximum penalty without prior disclosure for fraudulent violations is the transaction value of the merchandise.
B) The maximum penalty without prior disclosure for grossly negligent violations is the lesser of the domestic value of the merchandise or four times the loss of duties, taxes and fees.
C) The maximum penalty without prior disclosure for negligent violations is the lesser of the domestic value of the merchandise or two times the loss of duties, taxes and fees.
D) The maximum penalty with prior disclosure for fraudulent violations is one times the loss of duties, taxes and fees.
E) The maximum penalty with prior disclosure for fraudulent violations, if there is no loss of duties, taxes and fees, is 10 percent of the dutiable value of the merchandise.
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The Answer is: A
Citation: 19 CFR 162.73(a),(b)
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