Dec 28, 2011 CBP Bulletin Has 4 Ruling Notices (Would Allow Transaction Value for Related Party Post Import Changes, Etc.)
U.S. Customs and Border Protection's December 28, 2011 Customs Bulletin (Vol. 46, No. 1) contains four notices of ruling actions:
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- Proposed Revocation of a Ruling Relating to Post-Importation Adjustments; Transfer Pricing; Related Party Transactions; Reconciliation (comments due by January 27, 2012)
- Proposed Revocation of a Ruling and Proposed Revocation of Treatment Relating to the Tariff Classification of a Men’s Vest
- Proposed Revocation of Ruling and Proposed Revocation of Treatment Relating to the Tariff Classification of the “Trendy Tee” Craft Kit
- Proposed Modifications and Revocation of Rulings and Proposed Revocation of Treatment Relating to the Tariff Classification of Air Fresheners
(See future issues of ITT for detailed summaries of these ruling actions.
See ITT's Online Archives 11092605 for summary of CBP's advanced website notice of its interest in broadening its interpretation of what constitutes a "formula" for purposes of using transaction value for related party post-importation and downward adjustments. Note that in the December 28 Bulletin notice, CBP states that all comments received on its initial September 2011 notice were supportive of the proposed change.)