Customs and the World Trade OrganizationSyllabus of the Subject: Customs and the WTO (World Trade Organization).
The objectives of the subject “Customs and the World Trade Organization” are to understand the:
Customs and the World Trade Organization The Subject “Customs and the World Trade Organization” belongs to the following Online Higher Educational Programs taught by EENI Global Business School: Diploma: Foreign Trade. Courses: Export Assistant, Foreign Trade Management. Masters: International Business, Foreign Trade, International Transport. Doctorate: Global Logistics, World Trade. Learning materials in Area of Knowledge: Foreign Trade. Customs and the World Trade Organization Import licensing In Foreign Trade, import licensing are the administrative procedures that need the compliance of documentation to the administrative organization as a previous condition for the importation of products. The Agreement on Import Licensing Procedures of the World Trade Organization refers to “import licensing should be simple, transparent and predictable.” Customs valuation. Customs valuation is a procedure applied by the Customs to find out the “Customs value of the imported products.” In the case that the rate of duty is “ad valorem,” the customs value is necessary to find out the duty to be paid on an imported product. For importers, the process of estimating the value of a product at customs can present some troubles. The World Trade Organization Agreement on Customs Valuation aims for a fair, uniform and neutral system for the Customs Valuation. The World Trade Organization Agreement on Customs Valuation defines that customs valuation should (excluding in specified circumstances) be based on the actual price of the products (usually marked on the invoice). The following six methods are considered in the WTO Agreement on Customs:
Transaction value is the price paid by the importer to the benefit of the exporter for the imported products. Pre-shipment inspection When the exporter or the importer outsource to specialized private companies to control the shipment details (price, quantity, and quality) of the products. The Pre-shipment Inspection Agreement recognizes that the General Agreement on Tariffs and Trade (GATT) principles and obligations apply to these pre-shipment activities. Rules of Origin The “Rules of origin” define where a product was produced. The concept of rules and certificate of origin is a fundamental pillar of the international trade rules (quotas, preferential tariffs, anti-dumping, or counter export subsidies). Related subjects:
(Source: World Trade Organization). (c) EENI Global Business School (1995-2023) |