[Customs administration rights to ensure truth or accuracy] In cases where there is no transaction value or where transaction value is not acceptable as a customs value due to price distortion due to certain conditions, the agreement sets out five other customs assessment methods to be applied in the required hierarchical order. In total, the agreement takes into account the following six methods: in the absence of this provision, customs administrations could keep goods under customs control until assessment issues are addressed. This can take time and cost the importer dearly. Since disputes generally involve terms and conditions and not the goods themselves, it is not necessary to retain the goods until these issues have been resolved. Transaction value (items 1st and 8th). This method focuses on the value that a buyer and seller place on goods in an open market. The value is largely based on the selling price of the export transaction. (d) the value of a portion of the proceeds from subsequent resale, sale or use of imported goods, which are directly or indirectly paid to the seller. 4. The price actually paid or payable when determining the customs value is not increased, unless this article provides for it. Conversion date. Payments for imported goods are often expressed in a currency other than that of the importing country. Payments must be converted into the currency of the importing country using exchange rates.
Article 9.2 of the agreement allows members to choose between the date of export or import as the basis for monetary conversion. Booking related to the valuation of goods for further transformation. A developing country may reserve the right to assess imported goods that are subsequently processed in the country of import, in accordance with Article 5.2 (deduction method), whether or not the importer requests the application of this method. This would allow a developing country to exploit all the evaluation possibilities using the deductive method before trying the calculated method. Deduction of the price of the largest total quantity sold Article VII of the General Agreement on Tariffs and Trade defined the general principles of an international assessment system. It provided that the customs value of imported goods should be based on the actual value of imported goods, on which excised goods or similar goods, should not be based on the value of domestic products or on arbitrary or fictitious values. Although Section VII contained a definition of actual value, it still allowed for the use of very different valuation methods. In addition, the grandfather clauses allowed the pursuit of old standards that did not even meet the very general new standard. Release of goods before the final determination of the customs value. Article 13 requires members to provide in their legislation that an importer may withdraw its products from customs control in the event of a delay in determining the final value of customs. If so, a guarantee could take the form of a guarantee or bond to cover the potential customs obligation set by the Customs 89 that has been delayed in the application of the calculated value method. Section 20.2 authorizes delays in application, as the calculation and accounting required to determine the value using the calculated value method would normally be held by a producer outside the importing country.