Wto Customs Valuation Agreement

  Date Tuesday, December 22nd, 2020

Methods 4 and 5 may be changed at the request of the importer (but not at the discretion of the customs official). In addition, the agreement contains provisions for special and differentiated treatment of developing countries and technical assistance. Since this agreement is an integral part of the WTO`s sole commitment, all WTO members are members of the Customs Assessment Agreement. b) For the purposes of this article, the transaction value of identical goods is used to determine the customs value at a sale at the same commercial stage and in the same quantity as the goods to be assessed. If none of these sales are found, the transaction value of identical goods sold at a different commercial stage and/or at different quantities is adjusted to account for differences in trade and/or quantity, provided that these adjustments can be made on the basis of proven evidence that clearly demonstrates the relevance and accuracy of the correction, whether or not the adjustment results in an increase or impairment. Customs assessment is the regime by which customs authorities assign a monetary value to a good or service for import or export. In general, the authorities participate in this process to protect tariff concessions, collect revenue for government authority, implement trade policies and protect public health and safety. Tariffs and the need for tariff assessment have existed for thousands of years between different cultures, with evidence of their use in the Roman Empire, the Han dynasty and the Indian subcontinent. The first registered tariff was from 136 in Palmyra, an oasis city in the Syrian desert.

[1] Beginning at the end of the 20th century, customs assessment procedures in most parts of the world were codified in the 1994 agreement on the implementation of Article VII of the General Agreement on Tariffs and Trade (GATT). [2] However, where the determination of the customs value of imported goods is delayed in determining the customs value of imported goods, the importer of the goods may withdraw it from the duty if, if necessary, the importer provides a sufficient guarantee in the form of a guarantee, a surety or other appropriate instrument covering the final payment of duties for which the goods may be liable. Each member`s legislation provides for this. [currency conversion for customs value determination] 2. (a) To determine whether the transaction value is acceptable for the purposes of paragraph 1, the fact that the buyer and seller are related to the meaning of section 15 is not in itself a reason to characterize the value of the transaction as unacceptable. In this case, the circumstances of the sale must be examined and the transaction value accepted, provided the relationship does not affect the price.

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