CUSTOMS VALUATION: How to Determine the Customs Value - Part 1

Duration: 90 Minutes
Importers are required to WCO Customs Value System for the valuation of imported merchandise so that Customs can properly assess duties. We will analyze the difference between commercial value and customs value; the six valuation methods and how to apply them, what makes a good commercial invoice and what charges can be deducted from the dutiable value. We will also discuss the new information requirements for goods being imported into Mexico, to be enforced on January 2016.
WCO Customs Value System
Instructor: Linda B Sarabia
Product ID: 502013
Objectives of the Presentation
  • Why a Customs Valuation System
  • Difference between customs and commercial value
  • Whose responsibility is to determine the customs value
  • Transaction value
  • Charges that can be deducted from the Customs Value
Why Should you Attend
Due to the changes that has suffered the customs legislation in recent dates, now more than ever it is essential to identify the valuation method applicable for each one of the import operations performed by the importers, as well as its proper application. Through a dynamic presentation and the use of practical examples, the participant will correctly determine the taxable base taking into consideration the specific elements of each operation.

Areas Covered
  • Commercial value and customs value
  • Customs value definition
  • The WTO Customs Agreement
  • Customs Valuation Methods
  • Transaction value elements
  • Related parties
  • Mexico Customs Law information requirements
Who will Benefit
  • Sales director
  • Purchasing director
  • Logistics coordinator
  • Import/Export supervisor
  • Customs Brokers
Topic Background
For importers, the process of estimating the value of a product at customs presents problems that can be just as serious as the actual duty rate charged. The WTO agreement on customs valuation aims for a fair, uniform and neutral system for the valuation of goods for customs purposes - a system that conforms to commercial realities and which outlaws the use of arbitrary or fictitious customs values. The Committee on Customs Valuation of the Council for Trade in Goods (CGT) carries out work in the WTO on customs valuation.

This webinar is a part of "Customs Valuation- 2 Part Webinar Series".Click here to know more.


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Instructor Profile:
Linda B Sarabia is a Mexican customs and foreign trade consultant since 1991. She was the senior editor of a version of the Mexican import/ export HTS, that was 20 years in the market. She is an instructor in HTS classification and Mexico customs procedures for the Tijuana and Tecate Licensed Customs Brokers Association and the Mexican Customs Department in Nuevo Laredo, Tamaulipas.

Ms. Sarabia was a Mexican licensed customs broker from 1994 to 2014. She is the founder of North America Trade Consulting and Customs ABC, consulting firms specialized in HTS, rules of origin and customs value.
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