Wto Agreement On Valuation
The Customs Assessment Committee of the Goods Council (CGT) is conducting customs assessment work within the WTO as part of a series of measures to facilitate trade. The current chair is. whereas customs value should be based on simple and fair criteria, consistent with business practices, and that assessment procedures indiscriminately between sources of supply should be generalised; The agreement provides for a customs assessment system that bases customs value primarily on the transaction value of imported goods, i.e. on the price actually paid or payable for goods when they are sold for export to the importing country, with certain adjustments. The WTO Agreement on Customs Assessment aims to establish a fair, uniform and neutral system for assessing goods for customs purposes. The specific and differentiated provisions (SDT) concern extensions of transposition times, reservations about maintaining a system of minimum values and technical assistance. They are contained in Article 20 and Appendix III of the agreement, which do not specifically concern LDCs. Considering that, where possible, the basis for assessing goods for customs purposes should be the transactional value of the goods to be assessed; 2. No member may require or compel a person who is not established in their territory to submit an account or other set of data for review or to allow access to an account or other data set to determine a calculated value. However, information provided by the manufacturer of the goods to determine the customs value in accordance with this article may be verified in another country by the importing country authorities with the manufacturer`s consent and communicated in advance to the government of the country concerned, which does not object to the investigation. 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 Trade Topics category. This agreement should not be construed as limiting or questioning the rights of customs authorities to respect or challenge the accuracy or accuracy of a declaration, document or statement submitted for customs assessment.