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New Customs Publication Demands Independent Satisfaction of Customs Value Requirements

Client Alert | 1 min read | 05.31.07

Several weeks ago, U.S. Customs issued another in its series of Informed Compliance Publications for importers, this one concerning transfer pricing. We have included a link below.

There has always existed a tension between international transfer pricing principles under the customs laws (which seek to maximize import value) and under the income tax laws (which seek to minimize cost of goods sold), but for some time there was a tacit recognition by Customs that a tax compliant transfer price would not be challenged by it. The new Customs publication refutes that tacit recognition, and demands independent satisfaction of the customs value requirements. The Customs publication does acknowledge, however, that the same economic and financial analyses which led to a tax compliant transfer price might support a customs compliant transfer price, but that importers would at least have to perform a separate "reasonable care" inquiry under the customs laws and not just assume that the tax-driven transfer price is an acceptable customs value.

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Client Alert | 4 min read | 07.02.25

FTC Orders Divestitures in Retail Fuel Outlet Deal and Signals a Return to More Standard Remedy Discussions

Merger consent orders are back at the FTC, and the FTC’s most recent action showcases how the current leadership is analyzing divestiture proposals. Last week, the FTC approved a proposed consent agreement in Alimentation Couche-Tard Inc.’s (ACT) acquisition of retail fuel outlets from Giant Eagle, Inc. that paired standard retail divestitures with a “prior notice” requirement that ACT notify the agency of future acquisitions in certain markets regardless of size. This FTC has signaled greater acceptance of remedies than the prior administration, and this most recent consent puts that on display, with Commissioner Meador providing merging parties guidance on designing effective remedies....