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In determining the customs value for a particular

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In determining the customs value for a particular importation, the customs will first look at thetransaction value within the definition of the Article 1. Customs will either accept thetransaction value (as it is or by making some adjustments) or reject the transaction value. Inthe cases where the transaction value is rejected, the customs will use other alternativemethods of valuation in determining the customs value. We will discuss the alternativemethods in the Module 3.
[Type text][Type text]Customs Commercial OperationsModule 2: Transaction Value - WTO Valuation12Reading1:AGREEMENT ON IMPLEMENTATION OF ARTICLE VIIOF THE GENERAL AGREEMENT ON TARIFFS AND TRADE 1994Article 11.The customs value of imported goods shall be the transaction value, that is the priceactually paid or payable for the goods when sold for export to the country of importationadjusted 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 buyerother than restrictions which:(i)are imposed or required by law or by the public authorities in the country ofimportation;(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 avalue 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 goodsby the buyer will accrue directly or indirectly to the seller, unless an appropriate adjustmentcan 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 ofaragraph 2.2.(a)In determining whether the transaction value is acceptable for the purposes ofparagraph 1, the fact that the buyer and the seller are related within the meaning ofArticle 15 shall not in itself be grounds for regarding the transaction value as unacceptable.In such case the circumstances surrounding the sale shall be examined and the transactionvalue shall be accepted provided that the relationship did not influence the price.If, in thelight of information provided by the importer or otherwise, the customs administration hasgrounds for considering that the relationship influenced the price, it shall communicate itsgrounds to the importer and the importer shall be given a reasonable opportunity to respond.If the importer so requests, the communication of the grounds shall be in writing.(b)In a sale between related persons, the transaction value shall be accepted and thegoods valued in accordance with the provisions of paragraph 1 whenever the importerdemonstrates that such value closely approximates to one of the following occurring at orabout the same time:

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Term
Fall
Professor
NoProfessor
Tags
International Trade, General Agreement on Tariffs and Trade, Customs Commercial Operations

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