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World Trade Organisation (Wto) Valuation Agreement

The Agreement established a Committee on Customs Valuation composed of representatives of the various WTO Member States. This Committee shall meet at least once a year and shall give members the opportunity to consult each other on matters relating to the management of the Customs valuation system. The agreement also established a Technical Committee on Customs Valuation under the auspices of the World Customs Organization, an international organization based in Brussels whose objective is to promote international cooperation in customs matters. The tasks of the Technical Committee, which meets at least twice a year, include: examining specific technical issues arising in the day-to-day management of the Agreement; the preparation of expert opinions and appropriate solutions to these problems; study of the evaluation laws, procedures and practices of member countries; and to provide information and advice on all matters relating to customs valuation that may be requested by Member States. Any undertaking involved in international trade may benefit from the fair and predictable rules of this Agreement for the valuation of goods for customs purposes. Deviations are only allowed if it is not possible to use the transaction value (e.B. related parties influencing the price, cases where there is no sale, unreliable supporting documents) and even in this case, in accordance with a hierarchical set of five alternative valuation methods for these cases. Any deviation from the use of the transaction value increases the discretion that customs authorities may exercise, and any other subsequent method further increases that discretion. The hierarchical structure of the agreement aims to limit these possibilities, which corresponds to the objective of preventing the use of arbitrary or fictitious customs values. The WTO Agreement on Evaluation is officially known as the Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade (GATT) 1994. It replaced the GATT Valuation Code following the Uruguay Round of multilateral trade negotiations, which established the WTO in 1994. The above evaluation methods should be used in hierarchical order.

For these reasons, an assessment standard is needed at national and international level to ensure that the correct duty is collected and that there is a level playing field for all importers. There is also a need to improve the transparency and predictability of international transactions. Good standards and evaluation practices improve trade facilitation and contribute to the production of good trade statistics. Technical assistance and capacity building support are available to developing and least developed countries that are unable to implement the TFA. It is also a convenient way to access the necessary support for evaluation purposes. Given the overlap between the two agreements, WTO Members may take into account their capacity needs for the implementation of the stroke when identifying and planning their capacity needs for the implementation of the TFA. The Tokyo Round Customs Code or the 1979 Agreement on Implementation of Article VII of the GATT introduced a positive system of customs value based on the price actually paid or payable for imported goods. On the basis of the transaction value, a fair, uniform and neutral system of valuation of goods for customs purposes should be established, in accordance with economic circumstances.

This is different from the term value used in the Brussels value definition (BVD). As a stand-alone agreement, the Tokyo Round Evaluation Code has been signed by more than 40 parties. For importers, the process of estimating the value of a product for customs raises problems that can be as serious as the rate of duty in rem. The WTO Customs Valuation Agreement aims at a fair, uniform and neutral system of valuation of goods for customs purposes, a system consistent with economic circumstances and prohibiting the use of arbitrary or fictitious customs values. The Committee on Customs Valuation of the Council for Trade in Goods (CGT) conducts work on customs valuation in the WTO. It is essential to ensure that customs officers apply an appropriate valuation method, i.e. that provided for in the Agreement, and to avoid arbitrary findings or officially established minimum import prices in order to maintain the integrity of negotiated market access obligations based on the value of the imported product. .