Full-text views reflect the number of PDF downloads, PDF files sent to Google Drive, Dropbox, and Kindle, and HTML full-text views for chapters in this book. The agreement established a Customs Valuation Committee composed of representatives of each WTO member country. This Committee shall meet at least once a year and shall give members the opportunity to consult each other on matters relating to the management of the Customs valuation system. The agreement also established a Technical Committee on Customs Valuation under the auspices of the World Customs Organization, an international organization based in Brussels whose objective is to promote international cooperation in customs matters. The tasks of the Technical Committee, which meets at least twice a year, include: examining specific technical issues arising in the day-to-day management of the Agreement; the preparation of expert opinions and appropriate solutions to these problems; Study of the laws, procedures and practices of member countries with regard to evaluation; and to provide information and advice on all matters relating to customs valuation that may be requested by Member States. The agreement identifies certain situations in which the transaction value of imported goods is unacceptable for customs purposes. These occur: if there are restrictions (with a few exceptions) on the disposal or use of the goods by the buyer; if the sale or price of the goods is subject to a condition or consideration for which a value cannot be determined; if part of the proceeds from further use of the goods by the buyer accrues to the seller; or, with a few exceptions, if the buyer and seller are ”related” (p.B. business partner, employer, employee, officer or director of each other`s business. Note that you can choose to send to the @free.kindle.com or @kindle.com variant. ”@free.kindle.com” emails are free, but can only be sent to your device when connected to Wi-Fi. ”@kindle.com” emails can be sent even if you`re not connected to Wi-Fi, but be aware that service charges apply. The Agreement provides that the customs legislation of each WTO member country provides for the right of importers to a remedy without appeal, first to the country`s customs administration or an independent body, and then to a judicial authority. All laws, regulations, judicial decisions and administrative decisions that give effect to the Agreement will be published.

Customs valuation plays a fundamental role in the importation of goods. This is the methodology that countries use to assess imported goods in order to impose tariffs. The WTO Customs Valuation Agreement sets out the international rules to be followed. The Committee on Customs Valuation of the Council for Trade in Goods (CGT) is working at the WTO on a series of measures to facilitate trade at customs value. The current president is. Any enterprise involved in international trade may benefit from the fair and predictable rules of this Agreement for the valuation of goods for customs purposes. The agreement allows the legislation of importing countries to include the legislation of importing countries in the customs value or to exclude it from the customs value: Brief information on customs value A manual on the WTO Customs Valuation Agreement provides a simple and complete explanation of the terms of the customs agreement. Designed as a learning tool, it is designed to help new and experienced policy makers, customs officials, importers and exporters better understand the function and objectives of the agreement.

Browse or download the gateway for legal texts: For cases where it is impossible to determine the transaction value of the imported goods, the agreement provides for other methods of valuation. The first alternative is to set the customs value on the basis of the transaction value of identical goods sold for export to the same country. In the absence of identical goods, customs authorities shall use the transaction value of like goods sold for export to the same country. Where identical or similar goods are not sold for export to the same country, the value of identical or similar goods may be used for sale in the importing country. Alternatively, a calculated value can be used; The agreement describes how this value is to be calculated. If all else fails, the customs authorities shall use ”reasonable means consistent with the principles and general provisions of this Agreement” to determine the value of the imported goods. For importers, the process of estimating the value of a product for customs raises problems that can be as serious as the rate of duty in rem collected. The WTO Customs Valuation Agreement aims to establish a fair, uniform and neutral system of customs valuation of goods, consistent with trade policy circumstances and prohibits the use of arbitrary or fictitious customs values.

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