Advanced Valuation Strategies - Customs Valuation

Introduction

Customs value constitutes the basis for the assessment of Customs duties and taxes. A lack of knowledge often results in the submission of declarations with incorrect Customs values because all the elements necessary for their determination were not taken into consideration.

When such incorrect declarations are identified during the Customs valuation control process, adjustments are made to the declared value with an additional assessment of duties and taxes and sometimes penalties.

Course Objectives of Advanced valuation methods

• Be familiar with the principles for applying the second and third valuation methods.
• Understand the principles set out in Article 4.
• Know how to apply the valuation method described in Article 5 of the Agreement.
• Know how to apply the method described in Article 6 of the Agreement.
• Know how to apply the fallback method of valuation.
• Understand the general rules relating to the application of Articles 9 to 17 of the Agreement.
• Be familiar with the role of the WTO Valuation Committee and the WCO Technical Committee on Customs Valuation. 
• Understand the decisions of the WTO Committee on Customs Valuation and the instruments of the Technical Committee on Customs Valuation relating to the Agreement.

Course outlines of Advanced valuation methods

Day 1

The transaction value of identical or similar goods:

• The transaction value of identical or similar goods

Deductive value method:

• Deductive value method

Day 2

Valuation Using the computed value method:

• Valuation using the computed value method

The fallback method of valuation:

• The fallback method of valuation

Day 3

General Articles

• General Articles (Articles 9 to 17)

Day 4

Implementation and administration of the Agreement

• Implementation and administration of the Agreement

Day 5

WTO Valuation Committee decisions and instruments of the WCO Technical Committee on Customs Valuation

• WTO Valuation Committee decisions and instruments of the WCO Technical Committee on Customs Valuation

Post-course questions