Customs and Trade Alert - Customs to assess declared import price by reference TP documentation - Be warned

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Nov 2017

Recently, the World Customs Organisation (WCO) Technical Committee on Customs valuation (TCCV) published a valuation case submitted by China Customs under Case Study 14.2 titled "Use of Transfer Pricing Documentation When Examining Related Party Transactions Under Article 1.2(a) of the Agreement", which signifies the trend of WTO Members’ Customs in valuation review of cross-border related party transaction. During Customs’ questioning of TP Documentations, enterprise should conduct in-depth discussions with Customs from the perspective of actual case situation and customs valuation laws and regulations.

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