CBP Announces Policy Change That Will Permit Importers to Rely on Transfer Pricing to Determine Customs Value | White & Case LLP International Law Firm, Global Law Practice
CBP Announces Policy Change That Will Permit Importers to Rely on Transfer Pricing to Determine Customs Value

CBP Announces Policy Change That Will Permit Importers to Rely on Transfer Pricing to Determine Customs Value

On May 30, 2012, US Customs and Border Protection (CBP) announced a change in its position as to when a price determined pursuant to a transfer pricing policy may be used for purposes of determining transaction value for CBP purposes. It is now CBP’s position that transaction value (e.g., the invoice price) may be used for customs purposes even when based on a price determined pursuant to a formula set forth in a transfer pricing policy. CBP also clarified that post-importation adjustments can be used to revise customs value to receive refunds (or determine additional duties).

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