Transfer Pricing & Customs Valuation – Some interesting developments around the world

World

• May 2023: The Link Between Transfer Pricing and Customs Valuation (Seventh Edition Country Guide)
• February 2023: The WCO Symposium on E-Commerce and Customs Valuation Highlights Key Challenges
• May 2022: Customs valuation: what it is and why businesses should care about it?
• June 2021: The Link Between Transfer Pricing and Customs Valuation
• Customs Glossary: Customs value

Argentina

• February 2023: Customs continues to focus on customs valuation and transfer pricing issues

Belgium

• February 2021: Belgian Customs publishes note on customs (under-)valuation

Brazil – June 2022

• Brazil’s new transfer pricing rules and their impact on customs valuation discussed

Canada

• Canada Proposes “last sale” rule in relation to Customs Valuation

China – July 2022

• Shenzhen Introduces Collaborative Mechanism for Customs and Tax Transfer Pricing on Imports
• Shenzhen customs and tax authorities announce transfer pricing collaboration
• China launches first collaborative TP administration pilot program between Customs, Tax Authorities in Shenzhen
• Customs and Tax Authorities in Shenzhen launch collaborative management of transfer pricing related to goods imported from related parties

European Union

• EU releases draft act to introduce binding valuation decisions
• October 2020: Update EU Customs Valuation Guidance under the UCC

European Union – ECJ Cases

• April 2023: ECJ Customs C-770/21 ( OGL-Food Trade Lebensmittelvertrieb) – AG Opinion – Customs valuation & concept of of related parties
• ECJ Customs – C-775/19 (5th AVENUE Products Trading GmbH) – Preliminary ruling – Customs valuation of royalties paid for exclusive distribution rights
• Flashback on ECJ Cases C-661/15 (X) – Customs valuation of defective goods

Indonesia – May 2023

• Customs – Voluntary declaration and voluntary payment mechanism

Italy – June 2023

• Further guidance needed on transfer pricing adjustments and customs valuations in Italy

Kenya

• November 2021: Tax Appeal Tribunal rules on use of Transaction Value Method for customs valuation

New Zealand

• Key changes to NZ Customs rules for importers

Spain – February 2023

• Customs Authorities issue new guidelines on provisional customs value

United Kingdom – October 2022

• HMRC Collection: Working out the customs value of your imported goods
• HMRC Guidance: Valuing imported goods using Method 1 (transaction value)
• June 2023: Customs Advance Valuation Rulings available