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Customs Valuation and Transfer Pricing
The document discusses the World Trade Organization (WTO) and its role in establishing agreements covering trade in goods, services, and intellectual property rights. It outlines the WTO's key agreements and understanding, including the General Agreement on Tariffs and Trade (GATT) and the Customs Valuation Agreement. The Customs Valuation Agreement establishes transaction value as the primary method for customs valuation and provides guidelines for related party transactions and transfer pricing between related entities. Adjustments may need to be made to the transfer price to reflect the true value of goods for customs purposes.
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Customs Valuation and Transfer Pricing
- 1. WTO, Customs Valuationand 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 stoneof 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. MarrakeshAgreement Establishing the World Trade Organization
- 4. Understandings Multilateral Agreements on: Agriculture Sanitaryand 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 alwaysrequired! 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 IdenticalGoods 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!
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- 12. Keynotes on CVand TP
- 13. Customs Valuation andTransfer Pricing
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- 15. ________________________________________________________________________________________________________ Thank you Leonardo Macedo SeniorCustoms Officer / WCO Accredited Expert Leonardo.Macedobr@gmail.com