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Article
Valuation for Customs Purposes
Faculty Scholarship
  • Elizabeth Trujillo, Texas A&M University School of Law
Document Type
Book Section
Publication Year
2006
ISBN
9789004180642
DOI
10.1163/ej.9789004145665.i-1228.73
Abstract

The determination of the value of an imported product, the "valuation", plays a significant role for the operation of a tariff system, and its harmonization to some extent is necessary for the prevention of protectionism. Duties on imported goods can be imposed in three different ways: they can be specific duties, that is, an amount of money imposed per unit of imports; they can be assessed on an ad valorem basis, which means a rate that is a "percentage of value"; or they can be a combination of the two. Art. VII provides a very broad roadmap for measuring actual value for purposes of customs valuation. Much of that uniformity is now provided by the Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade (GATT) 1994, which elaborates on Art. VII.

Num Pages
17
Series
The Max Planck Commentaries on World Trade Law
Series Title
WTO - Trade in Goods
Publisher
Brill
Series Editor
Rüdiger Wolfrum, Peter-Tobias Stoll and Holger Hestermeyer
Citation Information
Elizabeth Trujillo. "Valuation for Customs Purposes" Vol. 5 (2006) p. 217 - 233
Available at: http://works.bepress.com/elizabeth_trujillo/11/