Is there anything wrong with related party transactions?
Absolutely not! Customs, however, may give the entry additional scrutiny, particularly when it comes to determining the value for duty purposes. Are related parties prohibited from using transaction value? Again the answer is no unless it can be proved that the relationship unduly influenced pricing. Indeed, the regulations allow the use of transaction value between related parties under the following conditions: The transaction value between a related buyer and seller is acceptable if an examination of the circumstances of sale indicates that their relationship did not influence the price actually paid or payable, or if the transaction value of the imported merchandise closely approximates: (A) The transaction value of identical merchandise; or of similar merchandise, in sales to unrelated buyers in the United States; or (B) The deductive value or computed value of identical merchandise, or of similar merchandise; (19 CFR 152.103( j)(2)(i)). How do related parties establish values bet
Related Questions
- I am testing my POS system or Website and I cannot see my test transactions in the Shopping Transactions report. Whats wrong?
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