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Countries have begun to integrate customs and tax administration and pursue joint examinations.
Progression toward joint transfer pricing and customs exams, however, generally lacks coordination of customs and transfer pricing values or documentation requirements. In this audio discussion, Bill Methenitis (the Americas practice leader of E&Y’s customs and international trade practice) and Steven C. Wrappe (principal in E&Y’s national transfer pricing practice) explained the similarities and differences between U.S. transfer pricing and customs valuation, the potential for different outcomes, and the opportunity to achieve a consistent result. They did this by: - Presenting a comprehensive overview of the rules and enforcement of transfer pricing and customs valuation;
- Demonstrating the potential for reaching inconsistent outcomes under the two regimes; and
- Reviewing attempts at coordination and exploring the potential to harmonize the two regimes.
Recorded on October 7, 2008, this audio event is available on CD for purchase.
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