Examples of Customs Valuation Agreement in a sentence
First, Sri Lanka was of the view that the provisions of the WTO Customs Valuation Agreement applied when the customs authorities were required to levy duty or tax that took the form of ordinary customs duties provided that they are ad valorem duties.
The valuation shall be made in accordance with Article VII of GATT 1994 and Customs Valuation Agreement; Generally Accepted Accounting Principles means the recognized consensus or substantial authoritative support in the territory of a Party with respect to the recording of revenues, expenses, costs, assets, and liabilities, the disclosure of information, and the preparation of financial statement.
To that end, Part 1 of the Customs Valuation Agreement is hereby incorporated into and made part of this Agreement, mutatis mutandis.
Sheri Rosenow and Brian O’Shea, “WTO Valuation Agreement Text,” in A Handbook on the WTO Customs Valuation Agreement, 2010, https://doi.org/10.30875/8678054b-en.
Each Party shall determine the customs value of goods in accordance with Part I of the Customs Valuation Agreement.