WTO Customs Valuation Agreement
Also called: Agreement on Implementation of Article VII of GATT 1994 · CVA
The WTO agreement that sets the rules for determining the customs value of imported goods, with transaction value as the primary method and a sequence of secondary methods. EU, Turkish, UK and US valuation laws are all based on it.
In practice
Because national rules derive from the same agreement, WCO commentaries and advisory opinions on valuation are useful in any of these jurisdictions.
EU
Türkiye
UK
USARelated terms
- Transaction value
- The price actually paid or payable for goods when sold for export to the importing country, adjusted for items such as commissions, packing, assists,…
- Secondary valuation methods
- Methods used when transaction value cannot be applied, in a fixed order: the value of identical goods, the value of similar goods, a deductive value…
- World Trade Organization
- The international organisation that administers multilateral trade agreements, including GATT, the agreements on customs valuation, rules of origin,…
- GATT
- The multilateral agreement on trade in goods, first signed in 1947 and incorporated into the WTO as GATT 1994. It contains core rules such as…