Korea: Preferential tariff rate under Korea-ASEAN free trade agreement; customs value based on fallback method

Customs-related decisions of the Tax Tribunal

Customs-related decisions of the Tax Tribunal

The KPMG member firm in Korea prepared a report on recent customs-related decisions of the Tax Tribunal, which involved the following issues:

  • Whether import of portable microphone qualified for preferential tariff rate under Korea-Association of Southeast Asian Nations (ASEAN) free trade agreement
  • The transaction value of an item in question and determining the customs value based on the fallback method

Read a September 2022 report [PDF 281 KB] prepared by the KPMG member firm in Korea


The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.