Royalties & License Fees: Dutiable or Not?

KPMG’s Trade and Customs Practice, an Associate Member of USA-ITA, is a recognized authority on United States and foreign trade compliance matters. On September 10, 2013, USA-ITA and KPMG presented a comprehensive webinar to guide you through the process of determining whether your royalties and license fees are dutiable costs that should be factored into the value of imported goods. The most recent WCO Advisory Opinion on Royalties and License Fees will also be discussed alongside important basics your company should know to help ensure up-to-date customs compliance on global valuation and royalty matters. Whether you're seeking information to create a solid customs compliance foundation for your company, or whether you want the latest updates on new developments and best practices to help achieve success, this webinar will provide an informative overview of valuation principles.

During the webinar, Andrew Siciliano, Partner of KPMG’s Trade and Customs practice in the New York office, and Todd Smith, Principal of KPMG’s Trade and Customs practice in the Los Angeles office, covered the following topics:

-How to assess whether your company's royalties and license fees are dutiable or not
-How to properly value your U.S. imports taking into account dutiable royalties and license fees
-The recent WCO Advisory Opinion on royalties and license fees and its implications
-How to establish the requisite internal controls and procedures so that your customs compliance and duty savings program will stand up to global Customs scrutiny

As nationally-recognized authorities on international trade and customs matters, Andy and Todd both have substantial experience leading and directing global trade and customs practices. Andrew is a CPA and Licensed Customs broker and has written and submitted several successful binding rulings to U.S. Customs and Border Protection specifically relating to the dutiablity of royalty payments. Todd also is a Licensed Customs Broker and holds a finance degree. He also recently participated in the WCO session in Brussels that issued the above mentioned WCO advisory opinion. Todd has also submitted several rulings on the dutiability of royalties and license fees in the U.S. and with non-U.S. customs authorities. 

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