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Valuation and Related Party Transactions
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When: Tuesday, January 22, 2019
7:30am - 4:00 pm
Where: CHS
5500 Cenex Drive
Inver Grove Heights, Minnesota  55077
United States
Contact: Julee Connelly

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Program Description

In this session our speakers will discuss and define, Valuation, Related-Party Transactions, understanding your responsibility in determining the true value of goods imported. Establishing controls over financial reporting requires oversight of many different transactions. How does the relationship with your customer or supplier affect your transaction and reporting? What should be considered to avoid paying too much or not enough duty. The speakers will review the triggers of enforcement by customs to avoid penalties. The seminar will commence with a Panel of exports answering your questions and providing their real-world experiences helpful for you.

  • GATT – General Agreement of Tariff and Trade
  • Transaction Value and CRAP (commission, Royalties, Assists,
  • Practical Exercises on Transaction Value
  • Other 5 methods of valuation
  • Valuation Exercises
  • Related Party Pricing and Transfer Pricing
  • Related Party and Transfer Pricing Best Practices
  • Practical Exercises
  • Panel on Enforcement and Q&A

Who Should Attend

Importers, Procurement Specialists, Freight Forwarders, Customs Specialists, Traffic Logistics Specialists, anyone involved in the Tax Financial and Compliance aspect of importing goods to the US.

Learning Objectives

  1. Valuation, what it is and how it affects my business
  2. Related-party transactions and Transfer Pricing Best Practices
  3. Workshop, practical exercises to determine your true value and avoid overpayment of duty and penalties
  4. Reconciliation


7:30 Registration
8:00 Program Begins
10:00 Break
12:00 Lunch
1:00 Program Resumes
3:00 Break
4:30 Adjourn


Tiffany Dust

Senior Associate, Tax and Valuation— KPMG

Kathleen Murphy

Partner— Drinker Biddle & Reath LLP

Kathleen M. MurphyKathleen Murphy counsels’ clients on maximizing trade benefits, making informed global procurement decisions and developing domestic and international trade compliance programs. She represents clients in audits, validations and investigations conducted by U.S. Customs and Border Protection. She also guides clients through CBP’s Trusted Trader Programs--the Customs-Trade Partnership Against Terrorism and the Importer Self-Assessment Program. Kathleen conducts internal trade compliance reviews and training and assists clients with developing periodic audit processes and internal controls for risk management and mitigation purposes. Additionally, she advises companies on corrective measures and risk avoidance strategies, including prior disclosures and Reconciliation filings.

Kathleen is ranked nationally in Chambers USA, where her clients describe her as having a “highly sophisticated” customs practice and a “really strong grasp” of valuation laws and regulations. Of particular significance is her considerable work on the First Sale Rule, additions to transaction value, and transfer pricing reviews under the customs laws. In addition, she is a frequent speaker on supply chain management, trade regulatory compliance, and trade developments promulgated by the World Trade Organization, the World Customs Organization, and the Organization of Economic Cooperation and Development. Kathleen has addressed numerous organizations on such topics, including the American Bar Association, the Court of International Trade Bar Association, the Chicago Bar Association, the American Association of Exporters and Importers, the International Compliance Professionals Association, the Midwest Global Trade Association, the Council of Logistics Management, the Society of International Affairs, Women in International Trade and various local and regional trade groups.

Jessica Libby

— Managing Director, KPMG, LLP

Jessica Libby is a Managing Director in KPMG’s Trade and Customs practice and leads the practice in KPMG’s Minneapolis office, while also supporting clients nationally. Jessica held various senior level global trade compliance and supply chain roles in private industry for a Fortune 500 retailer. She worked as an international trade consultant for a customs and trade law firm, and was an attorney with the International Trade Administration in Washington, D.C.

Jessica led Customs compliance efforts for one of the largest U.S. importers, including managing its Importer Self-Assessment initiative and an $18 million+ First Sale program, as well as the overall trade strategy efforts. Before joining KPMG, she led antidumping and countervailing duty investigations, prepared and conducted import compliance training, and partnered closely with U.S. Customs on key initiatives

Jessica’s diverse customs, supply chain and legal background gives her valuable insight into the strategic and operational complexities U.S. importers face, and the opportunities available to them. She possesses extensive experience with import compliance, tariff mitigation strategies (301/232), trade remedies, duty recoveries, and U.S. Customs and Border Protection operations.

Matt Rivard

Sr. Mgr. Global Trade Services— Target Corp

Matt Rivard is the chair of the Midwest Global Trade Association Education Committee and is a licensed customs broker. In nearly ten years of customs and supply chain experience, Matt has worked with several valuation topics, including transaction value, first sale for export, and related party pricing.

Matt is currently working on tariff classification in-house for a large importer, but still loves a good challenging valuation question.


Member: $125
Non-Member: $190
Student: $35

Cancellation Policy: With written cancellation notice, received at least 1 week prior to the event, you will receive a full refund, minus a $10 administrative fee. No-shows will not receive refunds.

Audio/Video Policy: Registration and attendance at, or participation at association events constitutes an agreement by the registrant to association’s use and distribution of the registrant or attendee’s image or voice in photographs, videotapes, electronic reproductions and audiotapes of such events and activities.

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