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ARTICLE · 18 MARCH 2015

Transfer Pricing Customs Duty Refund Applications – Let’s Do It Right

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The Canada Border Services Agency (CBSA) has informed the Canadian importing community that importers may be entitled to obtain customs duty refunds in connection with downward transfer pricing adjustments.

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The Canada Border Services Agency (CBSA) has informed the Canadian importing community that importers may be entitled to obtain customs duty refunds in connection with downward transfer pricing adjustments having the effect of correcting/reducing invoiced prices that served as the basis of customs valuation of imported goods. On January 19, 2015 (as it happens, a birthday present for this author/international trade lawyer – more on this below), the CBSA issued its new policy (Treatment of Downward Price Adjustments in Value for Duty Calculations – Customs Notice 15-001). See Canadian Customs Authority Shifts Gears on Import Duty Refunds for a discussion of the policy and its impact for customs and tax purposes.

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