Taiwan Customs Issues Guidance for Dutiable Values Stemming From Transfer Pricing Adjustments

Taiwan’s customs authority recently issued guidance about determining dutiable value “stemming from a one-time transfer pricing adjustment,” according to a Jan. 21 post from KPMG. The change, which took effect at the beginning of the 2020 fiscal year, allows certain companies to make a one-time transfer pricing adjustment when conducting transactions with “related parties.” Taiwan released guidance on assessing the one-time transfer pricing adjustment to determine the dutiable value to “assist companies that have imported goods from related parties” and would like to apply the adjustment, KPMG said.