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Vol 23 No 5 May/June 2018

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Drafting Commercial Agreements

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Customs Valuation and Transfer Pricing 2nd ed

ISBN13: 9789041161345
Published: November 2017
Publisher: Kluwer Law International
Country of Publication: The Netherlands
Format: Hardback
Price: £97.00

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Customs Valuation and Transfer Pricing helps customs administrations to examine the acceptability of a transaction value fixed between related parties in determining the customs value and assists multinational companies in determining acceptable transfer prices for customs purposes and in preparing supporting documentation. Issues of transfer pricing have come to the fore in both international tax and customs regimes. In particular, the problem of how to apply the two systems of valuation to the same transaction is of widespread concern. This well-known book, now in a fully updated second edition, is a problem-solving guide for professionals charged with valuating transactions in their client’s or company’s best interests. Through detailed examination of relevant guidelines, transfer pricing methodologies, and business realities prevailing among multinational enterprises, it offers a cogent and convincing account of how tax and customs transfer pricing regimes may be harmonized.

What’s in this book:

The second edition incorporates many of the relevant intervening international developments in the field; for example, the most recent commentaries, case studies, and draft instruments of the Technical Committee on Customs Valuation and rulings issued by the United States. Among other essential elements, the author discusses the following in depth:

  • the OECD Transfer Pricing Guidelines;
  • the GATT/WTO Customs Valuation Code (GVC) and other valuation rules in key jurisdictions and regional agreements;
  • the OECD and UN model tax conventions;
  • the arm’s length principle;
  • methods, both traditional and new, of determining whether the parties’ relationship influenced the price;
  • and additions to and deductions from the customs value.
This second edition discusses new developments in the field, including a chapter on Commentary 23.1 and Case Study 14.1 of the Technical Committee on Customs Valuation of the World Customs Organization (WCO) – the first international instruments linking transfer pricing and customs valuation. The book concludes with an analysis of the circumstances and conditions under which the introduction of transfer pricing year-end adjustments to transaction value would be consistent with Article 1 of the GVC.

How this will help you:

The book will continue to provide practitioners, customs administrations, and academics with a comprehensive knowledge of transfer pricing principles applicable in the tax and customs fields and a highly practical analysis of the intersection of transfer pricing and customs valuation. It will be welcomed by customs administrations charged with examining the acceptability of a transaction value fixed between related parties and multinational companies as a truly actionable tool they can use to optimize decision-making as it relates to transfer pricing and customs valuation in a “real world” setting.

The Arm’s Length Principle
Determining Whether the Relationship Influenced the Price: Arm’s Length Prices
Tax Bases: Customs Value and Tax Value of Imported Goods – Adjustments
Price Review Clauses and Formula Pricing
Appendix: Additional Case Studies

Series: International Taxation

The International Tax Law Concept of Dividend 2nd ed ISBN 9789041183941
Published June 2017
Kluwer Law International
Tax Sovereignty in the BEPS Era ISBN 9789041167071
Published June 2017
Kluwer Law International
Taxation and Migration ISBN 9789041161369
Published October 2015
Kluwer Law International
Taxation of Derivatives ISBN 9789041159779
Published August 2015
Kluwer Law International
The VAT/GST Treatment of Public Bodies ISBN 9789041146632
Published January 2013
Kluwer Law International
Science, Technology and Taxation ISBN 9789041131256
Published July 2012
Kluwer Law International
Immovable Property under VAT: A Comparative Global Analysis ISBN 9789041131263
Published May 2011
Kluwer Law International
Transfer Pricing and the Arm's Length Principle in International Tax Law ISBN 9789041132703
Published September 2010
Kluwer Law International
Systems of General Sales Taxation: Theory, Policy and Practice ISBN 9789041128324
Published August 2009
Kluwer Law International
Taxpayers Rights: Theory, Origin and Implementation ISBN 9789041126504
Published September 2007
Kluwer Law International
Tax Treaty Law and EC Law ISBN 9789041126290
Published August 2007
Kluwer Law International
Tax Investment Incentives in Foreign Direct Investment ISBN 9789041122285
Published April 2004
Kluwer Law International
Customs Valuation and Transfer Pricing ISBN 9789041198884
Published December 2002
Kluwer Law International
International and Comparative Taxation: Essays in Honour of Klaus Vogel ISBN 9789041198419
Published September 2002
Kluwer Law International