U.S. Customs Ramifications of Transfer Pricing Adjustments
Webinar: 1 CCS Credit
Much like U.S. customs laws and regulations, U.S. tax law requires that related party transactions satisfy the “arm’s length” principle. A question that often arises is what weight, if any, U.S. Customs and Border Protection should give to information an importer prepares for tax purposes in determining whether a related party transaction value is acceptable for customs purposes under the application of the circumstances of sale test. This webinar explores this concept, as well as the effect of transfer price adjustments on U.S. customs valuation, and provides related party importers with a greater understanding of the following key topics.
- the World Trade Organization and World Customs Organization
- basic concepts of customs valuation
- treatment of related party transactions
- establishing circumstances of sale
- acceptability of transfer pricing studies and agreements
- effect of transfer pricing adjustments
- transfer pricing additions: royalties and license fees
- subsequent proceeds
- best practices
Our Speaker: International Trade Attorney Mark Segrist
Mark Segrist is a member of Sandler, Travis & Rosenberg, P.A., resident in the Chicago office. His practice is focused primarily on import and export trade law and assisting clients in acquiring duty-saving benefits under the First Sale Rule. With regard to imports, Mr. Segrist’s practice focuses primarily on providing strategic advice and counsel to a wide range of multinational clients on international trade and customs law matters. He also has extensive experience assisting clients in properly structuring multi-tiered transactions to maximize lawful duty savings under the First Sale Rule.