The WCO Technical Committee on Customs Valuation approved by consensus two new consultative opinions to ensure certainty of interpretation and uniform application of the WTO Customs Valuation Agreement by economic operators and Customs officials.
These instruments, which were proposed by the Delegations of China and Uruguay Customs, were presented to be considered by the WCO Council. In its 52nd Session, held from May 17 to 19, 2021, the WCO Technical Committee on Customs Valuation adopted the two instruments.
The two documents were adopted after a virtual session which extended over three days. This kind of instruments help Customs, the private sector and WTO Members in the fair control of Customs valuation, international trade facilitation and optimization of Customs revenue.
The second instrument was proposed by the Delegation of the Uruguay National Customs Directorate, and refers to valuation treatment of imports with a trademark belonging to the buyer and previously provided to the seller for use in connection with the production of the imported goods.