Study Guide
5. Transparency in the administration of Customs valuation
Transparency Measures
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What do we mean by transparency? Transparency in Customs Valuation means that the value of imported goods is determined using clear, precise, rules-based methods. The value must have a basis in fact, supported by law, regulation, or procedure, on the basis of "objective and quantifiable data." This is why the WTO system is described as a positive system of valuation. The Customs value is built by adding precise elements, each supported by documentary evidence. |
Key transparency obligations under the WTO Valuation Agreement
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Article |
Transparency obligation |
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Article 9 |
Publish exchange rates used to convert amounts expressed in foreign currencies and identify when importation is deemed to occur. |
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Article 12 |
Publish and make available all laws, regulations, administrative directives, and other legal instruments concerning Customs valuation. |
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Article 16 |
Provide the importer with a written explanation of how a Customs value was determined, upon request. |