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April 15th, 2021

World Trade Organisation Valuation Agreement

[Customs Assessment Rules – Corrections (complements and exclusions) of the transaction value covered by Section 1] Any company involved in international trade can benefit from the fair and predictable rules of this agreement for the valuation of goods for customs purposes. For importers, estimating the value of a product in customs poses problems that can be as serious as the actual tariff calculated. The WTO Customs Assessment Agreement aims to establish a fair, uniform and neutral system for assessing goods for customs purposes, one that is consistent with commercial reality and prohibits the use of arbitrary or fictitious customs values. The Customs Assessment Committee of the Goods Council (CGT) conducts customs assessment work within the WTO. Considering that the basis for assessing goods for customs purposes should, as far as possible, be the transactional value of the goods to be assessed; The above evaluation methods should be used in hierarchical order. 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] The agreement gives customs authorities the right to request additional information from importers when they have reason to question the accuracy of the reported value of imported products. If, in spite of any additional information, the administration retains reasonable doubts, it can be considered that the customs value of the imported goods cannot be determined on the basis of the declared value and that the duty should determine the value taking into account the provisions of the agreement. [4] Any information that is confidential in nature or provided confidentially for customs purposes is strictly confidential by the relevant authorities, who do not disclose it without the express permission of the person or government transmitting this information, unless it may be disclosed in the context of legal proceedings.

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