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).
Click here to download PDF.
This publication is provided for your convenience and does not constitute legal advice. This publication is protected by copyright.
© 2012 White & Case LLP