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This year, the European Commission published an updated Compendium of customs valuation (Compendium 2024) with several important updates that promise to have a significant impact on the customs … valuation process. While its aim is to harmonise the application of legislation and minimise disputes between businesses and customs, it is likely that some of these updates will actually increase the already high number of disputes in this area. This article examines the new Comment No 19 on the buying commission and its implications for enforcement.

The previous article discussed the legal basis for the customs valuation of certain types of fruit and vegetables and the verification of the accuracy of such valuation. This article focuses … on a specific case considered by the Bulgarian courts and subsequently referred to the Court of Justice of the EU. The Court of Justice of the EU has issued a preliminary ruling, which should bring more clarity for the procedures related to customs valuation of fruit and vegetables imported into the EU.

This article is the first, introductory part of the article based on the judgment of the European Court of Justice (ECJ). This judgment concerns the customs valuation of certain types of fruit … and vegetables in the EU, which has its own peculiarities compared to the valuation of other goods. Therefore, in this article, the author explains these peculiarities of the customs valuation mechanism and in the second part, the judgment itself is reviewed.

Customs value and transfer pricing could be likened to Siamese twins - that's how closely linked they are. Let's discuss some practical questions related to the year-end transfer pricing adjustments: … If the price is revised upwards, does the importer have to go to customs and pay additional duties? If the price is revised downwards, is the importer entitled to a refund of duties? If the goods are duty-free and there is no excise duty, but only import VAT (which is deductible in any case)?

Transfer pricing is a rule that was designed in international taxation to establish which part of the income within a multinational enterprise needs to be allocated between two companies in the … same group if they have a transaction between them. The rule, in general, is that they need to act as if they were third parties in order to establish the third-party price. Transfer pricing is important for determining the customs value of goods.

Intrinsic value for commercial goods is the price of the goods themselves when sold for export to the customs territory of the Union, excluding transport and insurance costs, unless they are … included in the price and not separately indicated on the invoice.

“Customs value“ of imported goods on the international scale means the value as determined in accordance with the Agreement on Implementation of Article VII of the General Agreement on Tariffs … and Trade 1994 (WTO Agreement on Customs Valuation).

The customs value primarily bases on the transaction value of imported goods, which is the price actually paid or payable for the goods when sold for export to the country of importation, plus, … certain adjustments of costs and charges.