Valuation for customs purposes

Abstract

The present document is under the customs purposes which arises when a customs tariff is being established particular attention has to be given to Nomenclature and valuation. On the other hand, the need for a standard definition for the valuation of goods is often overlooked. This is explained, no doubt, by the fact that valuation is both a subjective concept and a matter of intuition. When one speaks of the value of an object, everyone is ready to give his own impression which in fact is no more than the value that that object has for the person concerned, according to the importance he attaches to the various elements entering into the notion of value, which need not be analysed here. Persons who are more or less directly interested in tariff questions have long been convinced of the advantages to be derived from a standard system or norm for the valuation of goods, which would end the diversity of criteria used in certain national legislations on this subject.