CBP's New Policy on Retroactive Transfer Price Adjustments Allows Potential Duty Refunds

Event Overview

On May 30, 2012, the U.S. Customs and Border Protection (CBP) agency finalized a long-awaited revision to its policy on transfer price adjustments.

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.

Professionals from KPMG LLP’s U.S. Washington National Tax Trade and Customs and Transfer Pricing practices invite you to a one-hour webcast to learn about these developments, including observations and considerations addressing transfer price adjustments from a customs perspective.

Through this time of flux, the need for companies to be proactive with their related party issues has never been greater or more likely to result in enhanced compliance efficiencies and potential customs duty benefits. This discussion will also address ways for companies’ representative customs and tax departments to work more effectively together on transfer pricing matters.

• Background on IRS and CBP transfer pricing rules
• CBP’s new transfer pricing adjustments policy
• Understanding the announced “five factors”
• Implications for both customs and tax professionals
• Potential impact on how new rules affect operational transfer pricing
• Ways to enhance compliance efficiencies inter-department: tax and customs