Tax alert 1/2018 – ECJ’s ruling on Customs Valuation and transfer pricing in the EU

ECJ ruled that EU customs law does not permit an agreed transaction value, composed of an amount initially invoiced and declared and a retro-active adjustment made after the end of the accounting period, to form the basis for the customs value, when it is unknown at the time of import whether that adjustment would be made up or down at the end of the accounting period.