Results for tag: "Customs Valuation"

Customs Valuation is the process of determining the value of goods for the purpose of taxation. It is a critical component of international trade, as it is used to calculate the amount of duty and taxes that must be paid when goods are imported or exported. Customs Valuation is based on the World Trade Organization's (WTO) Valuation Agreement, which sets out the rules and procedures for determining the value of goods for customs purposes. The agreement is based on the principle of “transaction value”, which is the price actually paid or payable for the goods, plus certain additional costs. Customs Valuation is a complex process, and requires the expertise of experienced professionals. Companies in the market include Deloitte, Ernst & Young, KPMG, PwC, and Grant Thornton. Show Less Read more