Customs value
The general rules for determining the customs value are laid down in the Union Customs Code (UCC). The term ‘customs value’ is primarily used when applying the customs tariff. The UCC has six methods for determination the value, which should be applied in chronological order (at the request of the importer methods 4 and 5 are interchangeable).
Transfer Pricing Controversy
The ongoing public debate about transfer pricing, transparency in taxation and the levying of tax where value is created within a group has increased the pressure for regulatory action. This has resulted in the introduction of various laws and regulations on a global, regional and local level.
Origin
The origin of a product is essential for the technical customs treatment of goods that are imported into or manufactured in the European Union (EU), or for goods that are exported to third countries. There are two definitions of the term ‘origin’: the preferential origin and the non-preferential origin.
NL-Africa Tax Newsletter – May 2024
The aim of this newsletter is to give you an easy-to-read overview of the latest tax updates in Africa. This month’s newsletter includes, amongst others, an update on the tax proposals (including Pillar 2) in Kenya’s 2024 Finance Bill, as well as a summary of grants and tax incentives in Southern Africa.