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Customs Valuation Agreement Full Text

September 16th, 2021

3. Articles 5 and 6 lay down two bases for the determination of the customs value if it cannot be determined on the basis of the transaction value of the imported goods or of identical or similar imported goods. In accordance with Article 5(1), the customs value shall be established on the basis of the price at which the goods are sold in the state in which they were imported to an independent buyer in the country of importation. The importer shall also have the right to have products processed after importation assessed in accordance with Article 5, if the importer so requests. In accordance with Article 6, the customs value shall be calculated on the basis of the calculated value. These two methods pose certain difficulties and, in this context, the importer has the right, in accordance with Article 4, to choose the order of application of the two methods. The Technical Committee, which meets at least twice a year, shall examine the specific technical problems posed by the day-to-day management of the Agreement; provide appropriate advice and solutions to these problems; study Member States` laws, procedures and evaluation practices; and provide information and advice on any customs valuation issues that may be requested by Member States. . .

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