What Is The Agreement On Customs Valuation

2. Where neither the imported goods nor the identical or similar imported goods are sold in the importing country in the state in which they were imported, the customs value shall be fixed, on a proposal from the importer, on the basis of the unit price at which the imported goods are sold after further processing in the largest total number of persons in the importing country: who are not associated with the persons from whom they purchase the goods; due account shall be taken of the value added generated by that treatment and of the deductions referred to in point (a) of paragraph 1. (b) For the purposes of this article, the transaction value of identical goods in the case of a sale at the same level of trade and in substantially the same quantity as the quantity of the goods being valued shall be used for the determination of the customs value; In the absence of such a sale, the transaction value of identical goods sold at a different level of trade and/or in different quantities shall be used, adjusted for differences due to level of trade and/or quantity, provided that such adjustments can be made on the basis of evidence clearly clarifying the adequacy and accuracy of the adjustment; if the adjustment results in an increase or decrease in value. The full text of the agreement is available on the WTO website. More information on the agreement and its application is also available on the WTO website in the category of trade issues. (ii) the cost of containers assimilated to one for customs purposes with the goods concerned; The agreement gives customs administrations the right to request additional information from importers if they have reason to doubt the accuracy of the declared value of imported goods. If, despite additional information, the administration retains reasonable doubts, it can be assumed that the customs value of the imported goods cannot be determined on the basis of the declared value and that customs should determine the value taking into account the provisions of the Agreement. [4] 2. In determining its legislation, each Member shall provide for the inclusion, in whole or in part, or exclusion of the following points in the customs value: the methods of customs valuation in descending order are as follows: the Agreement aims to establish a single, fair, uniform and neutral system of customs value for customs value; Adaptation to commercial realities and prohibition of the use of arbitrary or fictitious customs values.

The Agreement recognises, by its positive conception of value, that customs valuation should, as far as possible, be based on the actual price of the goods to be valued. Recognizing that customs valuation should be based on simple and fair criteria consistent with commercial practices and that valuation procedures should have general application, without distinction between sources of supply; The WTO Agreement on Implementation of Article VII of the GATT 1994 or the so-called Assessment Agreements are part of the Uruguay Round. The agreement contains the rules for determining the value of goods for the determination of customs duties and taxes in force at the time of importation of the goods. According to the valuation agreement, transaction value is the main method of value, i.e. value based on the actual price paid or payable for the goods. (2) An initial right to a remedy without penalty may be claimed before an authority of the customs administration or an independent body, but the legislation of each Member provides for the right to appeal to a judicial authority without sanctions. 1. The laws of each Member shall provide for the determination of the customs value of the right of appeal without penalty by the importer or another person responsible for payment of the duty. 1. The main basis for the customs value under this Agreement shall be the transaction value referred to in Article 1. .

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