The recently published ruling 14 K 588/20 of the Munich Tax Court dated October 27, 2022, addresses the case of a lump-sum TP adjustment at the end of the fiscal year that resulted in a lump sum increase in resale prices and thus in an additional intercompany charge to the German distributor.
On 17 May 2023, the European Commission published a set of proposals that, according to the Commission, constitute the “most ambitious and comprehensive reform of the EU Customs Union since its establishment in 1968.”
Welcome to our Virtual Year-End Review of Import/Export and Trade Compliance Developments Conference resource center. Baker McKenzie’s international trade compliance lawyers from around the world discussed the major global legislative, judicial and administrative activities and trends in export controls, trade sanctions, customs compliance, and import requirements in nine 75 minute sessions which took place from 15 to 17 November 2022.
Hot on the heels of the German Federal Fiscal Court’s publication of its final decision in the Hamamatsu case, UK Customs (HMRC) have today published updated guidance on the customs valuation of imports, replacing its previous guidance (Notice 252).
What jumps out at first glance is a seeming change in policy with regards to the valuation of goods sold between related parties, with HMRC advising “you will not usually be able to use Method 1 [Transaction Value] with a margin-based transfer pricing model.”
On 17 May 2022 the German Federal Fiscal Court – which is the Highest court for tax related matters in Germany – gave its final judgement in the (in)famous Hamamatsu case. This proceeding is part of the referral to the European Court of Justice that resulted in a startling – albeit unclear – decision by the ECJ that retroactive TP-adjustments (whether upwards or downwards) are not to be considered in the determination of the customs value.
The Annual Compliance Conference begins next week and attracts over 6,000 in-house senior legal and compliance professionals from across the world. This leading compliance conference will be held across five weeks from 6 September – 6 October 2022. We will be virtually delivering our cutting-edge insights and guidance on key global compliance, investigations and ethics issues. Our global experts will provide practical insights and analysis on significant developments:
• corruption and economic crime
• customs and FTAs
• ESG, supply chain and product compliance
• antitrust and competition
• export controls, sanctions and foreign investment
Click here to view the full agenda and register your interest in joining us virtually at this must attend global compliance conference for senior in-house legal and compliance professionals.
Welcome to our Virtual Global Trade Conference, a virtual offering for all our clients and friends worldwide. Baker McKenzie’s international trade compliance lawyers from around the world discussed the major developments impacting international trade, in 75 minutes sessions which took place from 20 to 21 July 2022.
Annual Compliance Conference
Our popular Annual Compliance Conference, which attracts over 6,000 in-house senior legal and compliance professionals from across the world, will be held across five weeks from 6 September – 6 October 2022. We will be virtually delivering our cutting-edge insights and guidance on key global compliance, investigations and ethics issues. Our global experts will provide practical insights and analysis on significant developments across:
– corruption and economic crime
– customs and FTAs
– ESG, supply chain and product compliance
– antitrust and competition
– export controls, sanctions and foreign investment
Click https://www.bakermckenzie.com/en/insight/events/2022/10/annual-compliance-conference to register your interest in joining us virtually at this must attend global compliance conference for senior in-house legal and compliance professionals.
We are pleased to invite you to our Virtual Global Trade Conference on July 20 and 21. In lieu of our annual conference in Bellevue, WA, we are excited to again provide a virtual offering available to all our clients and friends worldwide! Please join our international trade compliance lawyers from around the world as they discuss and examine the major developments impacting international trade. The conference will be comprised of 75 minute sessions over the course of two days and clients will also get the opportunity to request a virtual one-to-one meeting with our International Trade attorneys to discuss relevant topics of interest. Visit our events page for more information and to register.
Representatives of the EU and New Zealand held negotiations from 14 to 31 March 2022, discussing most areas of the future free trade agreement between the jurisdictions. According to a two-pager published by the European Commission, EU’s request to be exempt from New Zealand’s import customs fees is the only outstanding element in the text as far as the topic “Trade in goods” is concerned.