QUESTION: I recently spoke with the tax and finance team about how they set transfer prices and what is included in the calculation. When we started speaking about TP I advised them that duty would be assessed on the entered value which is the TP (assuming Customs accepts TP as the TV). They responded, we […]
QUESTION: We have determined that our transfer pricing model with our related party supplier is valid for use under Customs transaction value methodology. We are not in recon despite my recommendations in previous years. I just learned that my company will be receiving credits (adjustments to unit value) from our related party supplier for numerous […]
QUESTION: My company is revamping its clinical valuation practices and I’m wondering if anyone has insight as to methodologies for valuing commercially approved drugs to be used in the clinical space for reindications or as comparators. It is my understanding that since there is no price paid or payable, one would seek to use the […]
QUESTION: Would any members have a copy of TD 85-124 to share ? Can find anything but rulings referencing the decision. ========== Answer: I do not have a copy of TD 85-124 , however, I do have info from a Senior Import Specialist at the Electronics CEE- Enforcement Division in Memphis on this matter, see […]
QUESTION: Currently our Canadian company is sourcing goods from China and re-selling to our US Company. Transfer pricing case is in place due to related party transaction. We paid duty on the highest price of goods when sending product to the U.S. My questions: If our Canadian company imports directly to the US as an […]
QUESTION: Does anyone in the membership have any information or resources on the mechanism of filing a transfer price adjustment with CBP? I have searched and found various resources regarding the methods and requirements therein, but nothing on the actual mechanism. I also asked our broker if they were familiar with the process and they […]
QUESTION: SCENARIO I work for a U.S. company. We import an item from a European vendor, make a few minor alterations (minor enough that the tariff classification does not change), and then sell the item to a customer in a different European country. The customer is now returning units to us that have been used […]
QUESTION: Currently our Canadian company is sourcing goods from China and re-selling to our US Company. Transfer pricing case is in place due to related party transaction. We paid duty on the highest price of goods when sending product to the U.S. My questions: If our Canadian company imports directly to the US as an […]
QUESTION: I am trying to determine the best method for determining the value of a repair part. The part in question is produced at our facility in the USA and shipped to the UK. Once the product lifespan is used, it’s returned to the USA for repair. The repaired part is then shipped back to […]
QUESTION: Our company will be purchasing sheet sets consisting of a flat sheet, a fitted sheet and 2 pillowcases of at least 55% cotton. These will not be packaged for retail sale at the time of import. There are multiple rulings in CROSS that show that the sheets should be classified separately as 6302.31.9020 and […]
QUESTION: Is there a problem with changing the Transfer Price of a product to account for unforeseen the Section 301 duty? The transfer prices have already been set and include an amount for duty. The current transfer price, inclusive of previous duty amount, results in leaving an agreed amount of profit at our related party […]
QUESTION: Can the membership help explain how sets are valued for customs purposes. Example: 1) We are importing Bed Sheet sets. Each set contains 2 pillow cases, 1 Flat sheet, 1 Fitted Sheet. Each component has its own tariff code and must be declared separately on the entry. We receive a commercial invoice where the Bed […]
