• CBP Offers Opportunity to Comment on Expanding the Use of Transaction Value for Sales Subject to Post-Importation Adjustments
  • October 11, 2011
  • Law Firm: Alston Bird LLP - Atlanta Office
  • On September 23, 2011, U.S. Customs and Border Protection (CBP) posted to its website a request for advance public comments about a proposed revocation of CBP’s ruling HQ 547654 (Nov. 8, 2001). The proposal that CBP is considering would allow the importer that is the subject of the ruling to use transaction value in related party transactions that CBP currently views as having no transaction value. More importantly, it would broaden the definition of what is an objective transfer pricing “formula,” thereby allowing more importers to include post-importation downward price adjustments in their transaction value calculations. For importers of merchandise subject to ad valorem duty, these adjustments could result in significant duty savings.