Customs Valuation and Transfer Pricing
Reconciling the Conflicting Customs Valuation Requirements in Related-Party Transactions
Recording of a 90-minute CLE/CPE webinar with Q&A
This CLE course will discuss how customs and IRS related-party pricing rules compare and contrast, how compensating adjustments impact customs value, how advance pricing agreements (APA) and transfer pricing studies affect the customs reasonable care requirement, and how to manage customs related-party risks.
- Customs value
- Differences in approach: Customs v. transfer pricing
- Customs and tax related party pricing rulings
- Are the parties to the transaction sufficiently related so that their relationship could be affecting the price?
- If so, how is the correct price to be measured?
- Compensating adjustments impact on customs value
- Application of transaction value
- How adjustments should be taken into account
- Treatment of increases and decreases
- Customs reasonable care requirement
- Impact of APAs
- Impact of transfer pricing studies
- Managing customs related party risks
- Potential impact of customs value on income taxes
- IRC section 1059A
The panel will review these and other key questions:
- What tests are used for determining if the transaction value is acceptable?
- What factors must be considered before declaring an import value based on transaction value?
- What steps can importers take to harmonize customs and income tax valuation requirements?
Luis A. Abad
Senior Manager, National Tax, Trade and Customs Services
He assists clients in addressing their customs duty and value added tax liabilities, and international trade... | Read More
He assists clients in addressing their customs duty and value added tax liabilities, and international trade requirements. He is responsible for international trade services, including U.S. Customs and Border Protection audit assistance, duty savings strategies, and export licensing and compliance assistance. He conducts process reviews in the area of import and export compliance enhancement.Close
Lars-Erik A. Hjelm
Akin Gump Strauss Hauer & Feld
He focuses on customs law and policy. His experience covers the commercial and enforcement laws and policies that CBP... | Read More
He focuses on customs law and policy. His experience covers the commercial and enforcement laws and policies that CBP and ICE administer, including duty preference programs, tariff classification, valuation, customs brokerage, intellectual property rights enforcement, country of origin marking, binding rulings, audits, anti-terrorism and border protection initiatives, and export controls.Close