Joint WCO-OECD Workshop on Customs Valuation and Transfer Pricing

27 May 2014

The WCO and Organisation for Economic Cooperation and Development (OECD) recently held a joint regional workshop in Budapest, Hungary on Customs valuation and transfer pricing. Participants represented both Customs and tax administrations and facilitators were from the OECD, World Bank Group and the WCO Secretariat. Sessions were delivered on the fundamental principles of the two regimes and explored their similarities and differences. The group examined and discussed various scenarios where transfer pricing information may be useful to Customs administrations when examining related party transactions and considered the appropriate Customs’ treatment of transfer pricing adjustments.

The workshop follows two similar regional events held in Seoul, Korea and Pretoria, South Africa and provided a platform for Customs and tax administrations to establish contacts, with a view to closer co-operation on this topic.