Customs Valuation and Transfer Pricing
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Customs Valuation and Transfer Pricing
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Customs Valuation and Transfer Pricing
- 1. WTO, Customs Valuation and Transfer Pricing Points to discuss: What is the WTO? GATT Art. VII Brussels Definition of Value Customs Valuation Agreement Transaction value Related Parties Transfer Pricing The ping pong game
- 2. The WTO Corner stone of the Multilateral Trading System with agreements covering 3 areas: Trade in goods Trade in services Trade related intellectual property rights And a dispute settlement system to enforce them!
- 3. WTO Agreements 1A Multilat. Trade Agrs. on Goods 1B GATS 1C TRIPS 2 Dispute Settlem. Undst. 3 Trade Policy Review Mech. 4 Plurilat. Agrs. Marrakesh Agreement Establishing the World Trade Organization
- 4. Understandings Multilateral Agreements on: Agriculture Sanitary and Phytosanitary measures Safeguards Technical Barriers to Trade Trade-related investment measures Antidumping Customs Valuation Preshipment inspection Rules of origin Import Licensing Procedures Subsidies and countervailing measures Marrakesh Protocol GATT 1994 1A Multilat. Trade Agrs. on Goods WTO Multilateral Trade Agreements on Goods
- 5. Value not always required! To levy a duty, it is normally necessary to know 3 things: HS Nomenclature Tariff treatment A duty
- 6. • 5% Ad valorem • $5 per kg Specific • 10% + $2 per kg Compound • 10% or $2 per kg, whichever is higher Mixed • 8.3% + EA MAX 18.7% + AD S/Z “Technical” Type of duty Example Types of duties
- 8. Transaction Value Method Identical Goods TV Method Similar Goods TV Method Deductive Value Method Computed Value Method Fall Back Method Customs Valuation Methods
- 9. 1. Price actually paid or payable 2. For the goods 3. When sold for export 4. Adjusted (Art. 8) “CV of imported goods shall be the transaction value” Transaction Value ONLY those in Article 8 are allowed!
- 12. Keynotes on CV and TP
- 13. Customs Valuation and Transfer Pricing
- 14. Ping pong game
- 15. ________________________________________________________________________________________________________ Thank you Leonardo Macedo Senior Customs Officer / WCO Accredited Expert Leonardo.Macedobr@gmail.com