Customs Valuation
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Customs procedure applied to determine the value of imported goods for customs purposes.
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For customs authorities, the process of estimating the value of a product at customs presents problems that can have an impact on the amount of duty paid/collected. This item covers all support for valuation of imported goods. The WTO agreement on customs valuation more specifically aims for a fair, uniform and neutral system for the valuation of goods for customs purposes — a system that conforms to commercial realities, and which outlaws the use of arbitrary or fictitious customs values.
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Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade 1994 (customs valuation), Article 20.3
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Modernisation of customs legal, administrative, human resource and material infrastructure to be in full conformity with international conventions of the UN and the WTO.
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