Valuation issues

Anthony Buckley, CEO of Anthony Buckley Consulting Ltd. and formerly Head of Revenue's Customs Service in Ireland, shares practical insight into the complexities of customs valuation, illustrated throughout with real Irish cases and procedures.

Topics covered:

• A 2020 Irish Tax Appeals Commission case in which a successful appeal kept €1.75 million of royalty payments out of the customs value
• The role of the Compendium of Customs Valuation Texts and the recent deletion of Customs Code Committee Commentary No. 11
• When and why Irish customs queries valuation, including the legal indicators of a "related party" relationship (5% shareholding threshold) and its post-Brexit relevance
• How customs handles related-party transactions above €20,000, including the right to be heard and the burden of proof
• Types of evidence accepted to support a declared price, including comparison with similar/identical goods and transfer pricing methodology
• Which additional costs (per Incoterms) must be added to the customs value, and when they are a "condition of sale"
• How to handle costs that cannot be determined at the time of importation (e.g. royalties, resale-linked discounts), including a simplified declaration followed by a full declaration
• The upcoming EU regime for Binding Valuation Information (operational from 1 December 2027)
• Ireland's existing long-term "general declaration" mechanism for standing valuation authorisations

For a broader overview of the topic, please watch the full recording. The slides are available in the Resources section.

Please note that this summary was generated using AI, based on the recording and available slides.