Reasonableness of transfer price of a multinational kitchenware company for customs valuation purposes

Lee & Ko successfully assisted a multinational kitchenware company during an audit conducted by the Korean Customs Authority (“KCA”).  The key issue was whether the special relationship between the parties had any impact on the importer providing commission and discount that affected customs valuation.

Lee & Ko successfully defended the client providing sufficient technical reasoning and evidence that the dutiable value for purposes of customs valuation was appropriate.