Global

Details

  • Service: Tax, Global Indirect Tax, Global Transfer Pricing Services, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 6/19/2012

United States - Customs-duty refunds under retroactive transfer pricing adjustments 

June 19:  U.S. importers received welcome news on May 30, 2012, when the U.S. Customs and Border Protection (CBP) agency finalized a long-awaited revision to its policy on transfer price adjustments.

See TaxNewsFlash-Transfer Pricing: United States - Customs finalizes policy change relating to post-importation adjustments, if made pursuant to a formal transfer pricing policy


CBP clarified that, under certain circumstances, transfer price adjustments are compatible with the customs “transaction value” method, and modified its policy to now allow duty refunds for downward transfer price adjustments.


Read the June 2012 report [PDF 177 KB] prepared by the KPMG member firm in the United States: CBP Will Open the Door to Retroactive Transfer Pricing Adjustments and Potential Customs Duties Refunds, but Five Factors Hold the Key


This KPMG analysis provides a summary of CBP’s new policy, including observations and considerations addressing transfer price adjustments from a customs perspective




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