Valuation: How to Determine Customs Value

Why Should you Attend:

Companies engaged in international trade must make an effort to know and comply with the trade policies that affect their global shipments. Failure to comply with trade regulations can result in supply chain interruptions due to Customs delays or violations of key trade laws. While there are several important trade regulations members of the trade community must be familiar with, Customs valuation stands out as a major trade issue. Customs declared value is a critical trade policy and Customs valuation a key activity of Customs authorities. Nevertheless, many companies involved in global trade struggle with what Customs valuation is and how it works.

This webinar will talk about what Customs declared value is and how it is used by the Customs authorities. It will will discuss the WTO Agreement on Customs valuation and review the valuation methods which must be used to determine Customs declared value. It will also look at a few examples and case studies that will illustrate the use of the Customs valuation methods and finally share a few tools and resources to help with valuation.

This webinar will address the following key topics:

• WTO Agreement on Customs value
• The six Customs valuation methods

Areas Covered in the Webinar:

• What customs value is and how it used
• Customs value and the Customs entry process
• Ad Valorem duties
• WTO Agreement on Customs Value
• Customs valuation methods
• Case studies on valuation
• Tools and resources

Who Will Benefit:

• Importers
• Exporters
• Purchasing department personnel
• Compliance officers
• Logistics/Supply chain managers and analysts
• Trade regulatory/legislative affairs professionals
• Sales/marketing personnel
• Training personnel
• Consultants
• International business operations

Instructor Profile:

Reynaldo Roman, is a licensed U.S. Customs Broker and Certified Customs Specialist with more than eighteen years experience in Customs brokerage and U.S. trade compliance. During his career, Mr. Roman has managed Customs’ brokerage teams, worked as a compliance analyst at a large international importer and completed high-level trade compliance assignments such as product line classification and Customs protest and duty refund projects. He has gained specialized knowledge in the areas of pharmaceutical and medical devices, cosmetics and food products and consumer electronics and textiles.

In his current role, as senior manager of trade compliance at Marken, a world leader in providing logistical services to the pharmaceutical, biotechnology and clinical research industries, Reynaldo supports operations and clients in ensuring that the trade regulatory requirements of Customs and other government agencies are met.

Topic Background:

In order to standardize the process of customs valuation, 157 countries agree the follow the WTO Agreement on Customs valuation. The agreement establishes a Customs valuation system which provides a logical method for determining the Customs value of goods and prohibits the use of arbitrary or fictitious Customs values. All goods and services offered in international trade must be assigned a Customs value based on the six valuation methods outlined in the WTO Agreement on Customs value.

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