Question: My sales and commercial team wants to set up a transaction where it takes inventory sitting in a 3PL warehouse in an EU country that is owned by one of our EU entities and ship it to the UK. We have a separate UK entity (ABC UK) set up in the UK but for […]
Question: Does my company pose a risk if the FPPI is suppose to be my foreign company, however we are allowing the customer in that Foreign Country to act as the FPPI and select the Agent to file the EEI? Customer ‘Columbia’ wants to buy film from My company in ‘Mexico’. Mexico does not have […]
Question: Our company ships material several times a year via Ocean freight containers from USA facility to our UK facility. How does customs handle these types of shipments. Do they charge customs duty/taxes on the full amount of the commercial invoice. We do note on the CI ‘value for customs purposes only…intercompany stock transfer’. Does […]
QUESTION: Is anyone willing to share their intercompany transfer pricing policy for customs purposes? In an effort to reduce costs in garment production, we are looking to make “commitments” to utilize fabric from the fabric mills. The fabric would be used by multiple vendors for multiple garment styles. The vendors will actually purchase […]
I just found out today that my company based in the USA, is opening purchase orders on behalf of our related Mexico company. The USA places an order with a foreign supplier and instructs the foreign supplier to ship directly to Mexico. At this point I am unaware if my company in the USA will […]
Would someone explain the basic concept of the accounting and tax reporting premises for intercompany accounts? I used to work for a company where all intercompany accounts were ‘prepaid’ for export purposes (terms being CIP, CPT, etc.) I was always told this was for tax reporting purposes. A few months after I left I heard […]
Related parties valuation – we recently became a public company. Our accounting auditors have always helped determine intercompany pricing with our 18 sister companies. As far as I can ascertain, Customs valuation laws or “test” were not part of the picture. I have to present, to my VP Finance, what acceptable related party valuation means […]
I recently attended a seminar with a colleague which included a breakout session on Valuation. We have a disagreement on our interoperation. We manufacture product in our U.S. plant and truck inventory up to our related Warehouse in Canada, who in-turn sell the mdse to our Canadian customers. There is no monies exchanged and it […]
I have a general question regarding related party pricing for Customs. We have heard that there has been some significant recent industry push-back to the current rules/regulations and were wondering if your organization has any similar knowledge?
I have been working on fair valuation for imports from our foreign subsidiaries. I have always been under the impression that the Regs spell out the values allowed (price pd/payable, deductive, computated, etc etc.). However during an internal meeting someone brought up valuation based on a certain ‘tax code’. What is this? Can we set […]
Does anyone in the membership have any proceedures or regulations on how we should handle intercompany pricing for imports into Germany. I am assuming that these regulations vary from country to country.
