In Hamamatsu Photonics Deutschland GmbH v Hauptzollamt München (Case C-529/16) (20 December 2017) the CJEU found that the Customs Code does not allow transfer pricing adjustments made after the end of the relevant accounting period to change the customs value.
Hamamatsu purchased imported goods from its parent company which charged it intra-group prices in accordance with the advance pricing agreement concluded between the group of companies and the German tax authorities. The total of the amounts charged to Hamamatsu by its parent were regularly checked and if necessary adjusted in order to ensure the conformity of the sale price with the ‘arm’s length’ principle laid down in the OECD transfer pricing guidelines.
Following such transfer pricing adjustments Hamamatsu had applied for a repayment of customs duty which had been rejected by the German tax authorities....
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In Hamamatsu Photonics Deutschland GmbH v Hauptzollamt München (Case C-529/16) (20 December 2017) the CJEU found that the Customs Code does not allow transfer pricing adjustments made after the end of the relevant accounting period to change the customs value.
Hamamatsu purchased imported goods from its parent company which charged it intra-group prices in accordance with the advance pricing agreement concluded between the group of companies and the German tax authorities. The total of the amounts charged to Hamamatsu by its parent were regularly checked and if necessary adjusted in order to ensure the conformity of the sale price with the ‘arm’s length’ principle laid down in the OECD transfer pricing guidelines.
Following such transfer pricing adjustments Hamamatsu had applied for a repayment of customs duty which had been rejected by the German tax authorities....
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