Chapter 3 valuation of goods for customs purposes summary when customs duties are levied on an ad valorem basis eg 10 of the value of imported goods the actual incidence of duty depends on how customs determines. Customs valuation is a customs procedure applied to determine the customs value of imported goods if the rate of duty is ad valorem the customs value is essential to determine the duty to be paid on an imported good. The customs value could be based on the transaction value of identical or similar imported goods produced in a country other than the country of exportation of the goods being valued method 4b. This notice explains the methods to calculate duty on imported goods for importers and their clearing agents notice 252 valuation of imported goods for customs purposes vat and trade statistics . Definition customs value 2 the cv of imported goods is the value of goods for the purposes of levying ad valorem duties of customs on imported goods article 15 a most of the duty applicable on
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