- The CJEU’s Tauritus decision clarifies that retroactive price adjustments, including transfer pricing adjustments made after import, affect customs valuation and VAT liability for EU importers.
- Tauritus allows provisional pricing under the Union Customs Code (UCC) if adjustments are based on objective, pre-established criteria and simplified customs procedures are followed.
- The decision distinguishes Tauritus from the earlier Hamamatsu case, which restricted post-import adjustments under the previous Community Customs Code (CCC) due to lack of transparency and certainty.
- Companies must review and update their customs valuation practices and documentation to ensure compliance and avoid penalties or missed refunds.
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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