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Assessment by Customs

• Posted by Customs Manager January 10, 2023 Filed in Business #customs valuation  12 views
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  Goods and services are given a monetary value by customs officials during the customs valuation procedure before they may be imported or exported. Generally, authorities participate in this practice to safeguard tariff concessions, collect income for the ruling authority, enforce trade policy, and safeguard public health and safety. There is evidence of customs charges and the necessity for customs assessment throughout the Roman Empire, the Han Dynasty, and the Indian subcontinent, all of which date back thousands of years. In the year 136, the oasis city of Palmyra in the Syrian desert instituted the first known customs levy. The Agreement on Implementation of Article VII of the General Agreement on Tariffs and Trade (GATT) 1994 formalized the techniques used across much of the globe for customs valuation beginning at the end of the twentieth century.

  Can you define the TCCV and CCV for me?

  To facilitate Member consultation on problems relevant to the management of the customs valuation scheme by any Membership or the advancement of the Agreement's goals, the ACV creates a Committee on Customs Valuation (CCV) comprising members from each Member. From a foreign trade policy standpoint, the ACV is managed by the CCV.

  To achieve technical consistency in the actual interpretation and execution of the Agreement, the ACV also creates a Technical Committee on Customs Valuation (TCCV) under the auspices of the World Customs Organization. If a Member or a dispute resolution panel needs technical advice, it is the Technical Committee's job to provide it. From a technological standpoint, the ACV is managed by the TCCV.