Agreement Customs Valuation
Therefore, one of the main effects of this primary assessment rule is that important information for customs assessment is important for relevant business transactions. Other factors outside of the intermediate purchase between the buyer and the seller should generally not be taken into account when determining the customs value. The Tokyo Round Evaluation Code, concluded in 1979, or the 1979 GATT Article VII Implementation Agreement, established a positive customs assessment system based on the price actually paid or payable for imported goods. On the basis of transaction value, a fair, uniform and neutral system for the valuation of goods for customs purposes should be provided, in accordance with commercial conditions. This is different from the face value used in the definition of the Brussels value (BVD). The Tokyo Round Valuation Code has been signed by more than 40 contracting parties. The agreement provides that, except in certain circumstances, the tariff assessment is based on the actual price of the goods to be assessed, which is generally indicated on the invoice. This price, plus adjustments for certain items listed in Section 8, is the transaction value that is the first and most important valuation method within the meaning of the agreement. whereas customs value should be based on simple and fair criteria, consistent with business practices, and that assessment procedures indiscriminately between sources of supply should be generalised; 3. Members of developed countries provide technical assistance to members of developed countries who request it, under mutually agreed conditions. On this basis, members of developed countries establish technical assistance programmes that may include, among other things, staff training, assistance in the preparation of enforcement measures, access to sources of information on the customs assessment methodology and advice on the implementation of the provisions of this agreement. Since the starting point for calculating the deduction value is the selling price in the country of import, various deductions are necessary to reduce this price to the corresponding customs value: the commissions normally paid or agreed, the sum of profits and general expenses added to sales must also be deducted; the usual transport costs and the corresponding insurance must be deducted from the price of goods when these costs are normally borne within the country of import; tariffs and other national taxes due in the country of import due to the import or sale of goods must also be deducted; Value added by assembly or processing, if any.