The following is excerpted from a 14 May 2012 release by the International Chamber of Commerce.
ICC recently issued a policy statement on “Transfer Pricing and Customs Valuation” aimed at supporting companies that face the challenge of determining the appropriate related party valuation of goods.
These parties are subject to customs and fiscal examinations and thus are bound by differing laws, rules and contradictory interests. ICC believes that these examinations should yield the same value, and that a resolution to the problem is in the interests of all concerned.
This release is available in its entirety at:
http://www.iccwbo.org/policy/taxation/index.html?id=48299