Overview:
Cross-border tax planning entered a new phase with the introduction of the BEPS Action Plan, and the enactment of the Tax Cuts & Jobs Act. Old plans are now ineffective, and must be revised to address recent Customs issues. This insightful webinar will give you a comprehensive update on:
- Legal responsibilities and Customs
- Customs and transfer pricing
- Appraisement and valuation
-
Royalties and license fees
…and more
Objective:
To provide accountants and tax professionals with an in-depth examination of legislation changes in international taxation related to Customs laws and issues.
Emphasis:
-
Legal responsibility for Customs
– “Reasonable Care” requirements
– CBP emphasis on informed compliance and share responsibility
– Enforcement capabilities
– Audits
– Civil penalties
– Liquidated damages
– Seizures
– Forfeitures
– Criminal sanctions - Tests for Acceptability of Transaction Value Between Related Parties
- Bases of appraisement
- Transaction value
- Price actually paid or payable
- Multi-tiered transactions (first sale for export)
- Selling commissions
- Value and apportionment of assists
- Royalties/license fees related to imports
- Proceeds
- Tests for acceptability of transaction value between related parties
- Customs and transfer pricing
- Related party Customs valuation
- Relationship of Customs valuation to IRS transfer pricing
-
Trump tariffs