The global trade is complicated in
terms of compliance and security. International organisations and governments
are endeavoring to facilitate cross-border trade and simplifying customs
procedures. But protectionism policies and fraudulent activities
of some traders make border controls a burden for Customs administrations.
Among the issues, customs valuation
has been a paramount function of Customs officials. Customs valuation becomes
an issue where import duties and taxes are calculated on an ad valorem
basis.
An ad valorem duty is one that is expressed
as a percentage of value of the importing goods. Thus, how Customs authorities
determine the customs value is as important to the importer as the rate of
import duty specified in the national tariff schedule for the goods, as both,
the customs value and the rate determine the payable duty. Valuation fraud is a
serious problem in particular, in developing countries that have relatively
high tariff rates and other ad valorem taxes on imported goods.
This book aims to present customs
valuation rules and methods. It can serve as a handy guide for the traders,
customs brokers, lawyers, customs officials, investors, students, and all those
are dealing with cross-border trade activities.
By: Abdolaziz Yousefi
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