IFCBA and WCO Celebrate 25 Years of Collaboration

The International Federation of Customs Brokers (IFCBA) celebrated its 25th anniversary with meetings at the World Customs Organization (WCO) Headquarters in Brussels, Belgium on 18-19 May 2015. » more

About the IFCBA

The IFCBA has been representing the interests of the worlds' customs brokers and their clients since 1990. Many of our member associations have been involved in similar activities within their own countries for nearly a century. » more

Recent News

Dozens of countries have agreed to abolish duties on more than 200 technology products — from advanced computer chips to GPS devices, printer cartridges and video-game consoles.

The agreement announced Friday marks the World Trade Organization's first tariff-killing deal in 18 years.

The deal is an expansion of the 1997 Information Technology Agreement, which includes 80 WTO member countries. The updated accord covers products that generate $1 trillion in annual global revenue, including $100 billion a year for American companies.

This has been excerpted from the 24 July 2015 edition of CBC News and is available in its entirety at:
http://www.cbc.ca/news/business/wto-inks-trade-deal-to-end-tariffs-on-more-than-200-tech-products-1.3166134

Please click here to read a news article on the 22nd Biennial Convention!  

Members of the WCO Private Sector Consultative Group were actively engaged in the development of this guidance on Customs-business partnership,  and IFCBA Secretary/CSCB President Carol West co-chaired the small group which worked closely with the WCO Secretariat on the advanced pillar of the guidance.

The Guidance is available on the World Customs Organization website at:
http://www.wcoomd.org/en/media/newsroom/2015/july/release-of-the-wco-customs-business-partnership-guidance.aspx

The twelfth review of the trade policies and practices of the European Union (formerly EC) takes place on 6 and 8 July 2015. The basis for the review is a report by the WTO Secretariat and a report by the Government of the European Union.

The review documents are avalable on the World Trade Organization website at:
https://www.wto.org/english/tratop_e/tpr_e/tp417_e.htm

The WCO is launching a major new guide on the topic of Customs valuation and transfer pricing. The interaction between these two regimes has been an important issue both for Customs administrations and the trade over recent years.

The issue concerns international transactions within a multi-national group. Customs aim is to ensure that the price for transactions of imported goods is not influenced by the relationship between buyer and seller (based on the methodology for Customs valuation contained in the WTO Valuation Agreement). Tax administrations, on the other hand, are examining the same transactions to ensure the conditions are consistent with the 'arm’s length principle' for profit tax purposes. Generally, the methodology used for this purpose is based on the OECD Transfer Pricing Guidelines.

This has been excerpted from a 24 June 2015 news item by the World Customs Organization and is available in its entirety at:
http://www.wcoomd.org/en/media/newsroom/2015/june/new-wco-guide-to-customs-valuation-and-transfer-pricing.aspx