Valuation
Identical Goods Value
Also known as: Method 2 valuation, Value of identical goods
The second customs valuation method using the transaction value of previously imported identical goods to determine customs value.
Also known as: Method 2 valuation, Value of identical goods
The second customs valuation method using the transaction value of previously imported identical goods to determine customs value.
The identical goods value is the second customs valuation method under the WTO Agreement. It is used when the transaction value of imported goods cannot be determined and references the transaction value of identical goods previously imported into the same country.
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Process of determining the customs value of imported goods using the six methods of the WTO Valuation Agreement, used to calculate duties and taxes.
ValuationTransaction Value
The price actually paid or payable for imported goods, adjusted as prescribed by the WTO Valuation Agreement. It is the primary method for determining customs value.
TradeCustoms Value
The monetary amount on which import duties are calculated, determined according to the WTO Valuation Agreement with transaction value as the primary method.
RegulationsWTO Valuation Agreement
A multilateral treaty establishing uniform methods for determining the customs value of imported goods, based on the transaction value.