Post-importation transfer pricing adjustments have always presented great challenge for multinational companies doing business in China due to the lack of formal nationwide mechanism which simultaneously addresses the tax, customs and foreign exchange administration requirements, in order to allow customs valuation adjustment to be made in response to a post-importation TP adjustment.
While a TP and customs aligned approach which was introduced in a pilot program in Shenzhen in 2022 allows retroactive TP adjustment to be made with respect to imported goods, the application of the pilot program is currently limited to companies registered in Shenzhen which have in place advanced pricing arrangements with the China tax authority.

Post-importation transfer pricing adjustments have always presented great challenge for multinational companies doing business in China due to the lack of formal nationwide mechanism which simultaneously addresses the tax, customs and foreign exchange administration requirements, in order to allow customs valuation adjustment to be made in response to a post-importation TP adjustment. A new practice adopted by China Customs piles on additional challenges for companies looking to implement TP adjustments.

After two and a half years since the issuance of the Regulations on the Unreliable Entities List, the Unreliable Entities List Working Mechanism headed by China’s Ministry of Commerce has for the first time designated two US aerospace and defense companies as “Unreliable Entities.”

We are pleased to invite you to our Virtual Global Trade Conference on July 20 and 21. In lieu of our annual conference in Bellevue, WA, we are excited to again provide a virtual offering available to all our clients and friends worldwide! Please join our international trade compliance lawyers from around the world as they discuss and examine the major developments impacting international trade. The conference will be comprised of 75 minute sessions over the course of two days and clients will also get the opportunity to request a virtual one-to-one meeting with our International Trade attorneys to discuss relevant topics of interest. Visit our events page for more information and to register.

More than one year since China’s new Export Control Law became effective, the Ministry of Commerce has finally released the long-awaited Regulations on Dual-use Item Export Control draft, for public comments on 22 April 2022.

More than one year since China’s new Export Control Law became effective, the Ministry of Commerce has finally released the long-awaited Regulations on Dual-use Item Export Control draft, for public comments on 22 April 2022.

Baker McKenzie’s Sanctions Blog published the alert titled Singapore Sanctions Measures Come Into Force on 17 March 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.

Baker McKenzie’s Sanctions Blog published the alert titled The Singapore Exchange suspends PJSC Gazprom from Trading and what does the Singapore Exchange expect from issuers in relation to sanctions on 11 March 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.

Baker McKenzie’s Sanctions Blog published the alert titled Singapore provides details of export control & financial sanctions on Russia on 6 March 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.

Our 19th Annual Global Trade and Supply Chain Webinar Series entitled, “International Trade Developments in a Challenging New World,” includes the latest international trade developments. This year, in a variety of sessions, our panels of experts will cover the key developments and latest trends on sanctions, export controls and Foreign Investment Review regimes. On the inbound side, there will be sessions on opportunities and compliance challenges arising out of FTAs, hot topics on Customs valuation, trends in customs audits and supply chain compliance challenges and logistics.