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ARTICLE · 20 JUNE 2012

CBP To Allow Transfer Pricing Adjustments In Transaction Value Appraisement Method

Drinker Biddle & Reath LLP
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On May 30, 2012, U.S. Customs and Border Protection (CBP) announced the revocation of an administrative ruling (Headquarters Ruling Letter (HRL) 547654, dated November 8, 2001).

United StatesTax
Kathleen Murphy
Kathleen Murphy
Beata Spuhler
Beata Spuhler

On May 30, 2012, U.S. Customs and Border Protection (CBP) announced the revocation of an administrative ruling (Headquarters Ruling Letter (HRL) 547654, dated November 8, 2001) that sought to prohibit an importer from using the transaction value method of appraisement for related party sales involving a retroactive transfer pricing adjustment.

Based on CBP's amended policy, effective July 30, 2012, companies who import merchandise from related parties pursuant to a written transfer pricing formula may utilize a transaction value method of appraisement where appropriate, and report any post-importation transfer price adjustments to CBP, preferably through participation in CBP's Reconciliation Prototype program.

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