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2022 | OriginalPaper | Chapter

7. Valuation of Good

Author : Héctor Hugo Juárez Allende

Published in: The World Customs Organization

Publisher: Springer International Publishing

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Abstract

To allocate “ad valorem” customs duties, rules criteria have been harmonized to uniformly determine the value of goods, i.e., its tax base. Valuation is an essential element to collect trade statistics, follow up quantitative restrictions, apply preferential tariffs, and collect national taxes. In this chapter we present the WTO Agreement on Customs Valuation (1994) and its benefits, and we discuss the different methods to value goods and the challenges regarding transfer pricing.

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previous chapter Nomenclature and Classification of Goods

next chapter Origin of Goods

Bueno (2007), p. 9.

Pardo Carrero (2015), p. 121.

Álvarez Gómez Pallete (2002), p. 46.

World Customs Organization, WTO Valuate Agreement. http://www.wcoomd.org/en/topics/valuation/overview/wto-valuation-agreement.aspx. Accessed May 10, 2021.

World Trade Organization, The Uruguay Round. https://www.wto.org/english/thewto_e/whatis_e/tif_e/fact5_e.htm. Accessed May 10, 2021.

WTO Valuation Agreement. Article 1.1 The customs value of imported goods shall be the transaction value, that is the price actually paid or payable for the goods when sold for export to the country of importation adjusted in accordance with the provisions of Article 8, provided: a. that there are no restrictions as to the disposition or use of the goods by the buyer other than restrictions which: i. are imposed or required by law or by the public authorities in the country of importation; ii. limit the geographical area in which the goods may be resold, or iii. do not substantially affect the value of the goods; b. that the sale or price is not subject to some condition or consideration for which a value cannot be determined with respect to the goods being valued; c. that no part of the proceeds of any subsequent resale, disposal or use of the goods by the buyer will accrue directly or indirectly to the seller, unless an appropriate adjustment can be made in accordance with the provisions of Article 8; and d. that the buyer and seller are not related, or where the buyer and seller are related, that the transaction value is acceptable for customs purposes under the provisions of paragraph 2.

World Customs Organization, Brief Guide to the Customs Valuation Code, 3rd Edition, WCO, Brussels, 1996. http://www.wcoomd.org/-/media/wco/public/global/pdf/topics/valuation/instruments-and-tools/gatt/brief-guide-to-the-customs-valuation-code.pdf?db=web. Accessed May 10, 2021.

http://www.wcoomd.org/en/topics/valuation/instruments-and-tools/guide-to-customs-valuation-and-transfer-pricing.aspx. Accessed May 10, 2021.

Álvarez Gómez Pallete JM (2002) La Organización Mundial de Aduanas y sus Convenios. In: Customs and International Trade Research Center (CIACI, for its acronym in Spanish). p 46

Bueno ME (2007) El valor en Aduana de las mercaderías. IARA S.A, Buenos Aires, 7th updated edition, p 9

Pardo Carrero G (2015) Relevancia Tributaria del Valor en Aduana de la mercancía importada. In: Colombian Institute of Tax Law (ICDT for its acronym in Spanish), Bogota, Colombia. p 121

Title: Valuation of Good
Author: Héctor Hugo Juárez Allende
Publisher: Springer International Publishing
Book: The World Customs Organization
Print ISBN: 978-3-030-85295-5

Electronic ISBN: 978-3-030-85296-2

Copyright Year: 2022
DOI: https://doi.org/10.1007/978-3-030-85296-2_7