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Customs Administration reminds Profit-Seeking Enterprises of Precautions When Conducting Customs Value Determination of One-Time Transfer Pricing in a Fiscal Year

Customs Administration stated that profit-seeking enterprises that conduct customs value determination of one-time transfer pricing in a fiscal year (hereinafter referred to as “the Operation”) should prepare controlled transaction contracts. When declaring the imported goods, profit-seeking enterprises should provide Customs with a payment of deposit in accordance with Subparagraph 3, Paragraph 3, Article 18 of the Customs Act. Within one month after the end of the fiscal year, profit-seeking enterprises shall submit an application to local Customs for the determination of customs value. It is important that the price of identical goods should be adjusted at the same trend and range. Then, Customs will determine the price of the imported goods according to the customs valuation provision of Section 2, Chapter 2 of the Customs Act.

Customs Administration explained that the Operation has been implemented for 3 years since 2020. In order to in line with the Ministry of Finance’s policy of harmonization of taxes and duty by enforcing the Operation, Customs will inform National Taxation Bureaus about the final determination of customs value, so as to promote the mutual check of duty and taxes. Furthermore, with a view to smooth the Operation conducted by Customs and elevate efficiency, Customs Administration held the seminar on “Customs Value Determination of One-Time Transfer Pricing in a Fiscal Year”, and invited accounting firms and associations, concerned profit-seeking enterprises, Taxation Administration, and Taxation Bureaus to the seminar. Customs urged profit-seeking enterprises to cooperate with the following items:

  1. The participants of the controlled transaction shall reach an agreement for conditions of the transaction and all effecting factors to the price. The agreement above shall let Customs know the items of goods or brands predestined to adjust. If there is a change of circumstances that leads to the change of the agreement, please provide Customs with relevant information when Customs need to have a check on it, so as to meet the needs of regulation and commerce. 
  2. After the end of fiscal year, when profit-seeking enterprises submit the application for customs value determination, they should take profit, import declarations, and price of identical goods of the whole year into account. The price of identical goods should be adjusted at the same trend and range. In compliance of the regulations of customs valuation, it should be avoided to adjust the price of imported goods by concentrating profit of the whole year on just one or a few imported declarations. Furthermore, if there are differences in industry operations that lead to different pricing formulas every quarter or half-year, please illustrate concerned detailed information about the reason of pricing or method to Customs.

Finally, because the fiscal year of 2023 is coming to an end, Customs Administration would like to remind profit-seeking enterprises that conduct the Operation to review the profit and prepare the documentations for the adjustment of customs value of the imported goods in the fiscal year, and the price of identical goods should be adjusted at the same trend and range. If you have questions about the Operation, you are welcome to consult the personnel in charge of the Operation at Customs Administration and local Customs.

Phone: (02)2550-5500 ext.2780

Issued:Customs Administration Release date:2023-10-31 Last updated:2023-10-31 Click times:479