Chapter 7 the World Trade Organization Agreements (3) . Agreement on Customs Valuation Agreement on Import Licensing. Review . ODCs The positive standards The STEs Rules of origin The WCO Preferential treatment. Agreement on Customs Valuation .
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Agreement on Customs Valuation
Agreement on Import Licensing
1)permitted the use of widely differing methods;
1) New and rare
products were often not captured;
2) The USA never became part of the BVD.
contracts, purchase orders
e.g. the seller establishes the price of the imported goods on the condition that the buyer will also buy other goods in specified quantities
e.g. officers or directors of one another's businesses; employer and employee
characteristics, quality, and reputation);
in same country
--Minor differences in appearance
– Humidors - $25 a piece
– Cohibas - $17 a piece
– Romeo y Julietta - $10 a piece
• What is the Customs value?
importer, you run across a declaration of Dell Computers
from the same manufacturer in China, Model ABC, for
$1,250 per unit acceptable under Transaction Value.
the only difference between ABC and XYZ is the weight and other minor features.
The transport costs；Labor；Overhead & Utilities
– The are sold to retailers at $5 a piece
– The general expenses and profit of the importer averaged to 50 cents per Maglite sold.
– The importer paid 25 cents per Maglite to label it in Yiwu.
– The total duties and taxes on flashlights from China is 25%
– Wood, Brackets, and Screws = $3.00
– Cushioning = $1.00
– Assembly Cost = $1.00
– Designs provided by the Chinese importer = $1.00
– Manufacturer Production Expenses and Profit = $1.00
– Packing and Shipping = $1.00
declaration is ￥100.00.
WTO agreement gives the importer the right to reverse
Deductive and Computed Value.
Developed country Members shall furnish technical assistance;
training of personnel, assistance in preparing implementation measures
Committee on Customs valuation determined by:
---composed of representatives from each of Members
---affords members the opportunity to consult
Technical committee on customs values
--established under the auspices of WCO
--ensures uniformity in interpretation and application of the Agreement
---advises on specific technical mattersV. Institutions
---the security exception provisions, not disclose confidential information