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Valuation Definition Brussels (Brussels Definition of Value BDV) 0 replies,1512 views

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One of the provisions of international customs valuation, means a customs union of European countries, from 34 countries signed in Brussels in 1950, the "Convention on the customs valuation of goods." The agreement made to the definition of customs value, known as the Brussels Definition valuation, which provides for customs should be based on the normal price of imported goods (Normal Price) as the basis of valuation, this valuation method than the then 34 States Parties, the other 67 who have adopted countries and regions. Currently, only part of the valuation provisions as the developing countries. Normal price is the port in the importing countries or delivery areas, in the payment of customs duties, in the independent seller and buyer on the open market, any buyer could buy the normal price for this commodity. Included in the cost price of content and the factors that affect price levels and conditions of the Annex to the Convention are to be provided and explained, the basic spirit is to comply with the normal principles. At the same time, same place, under the same conditions, several different merchants imported the same goods, the customs value can only have a normal price, the Department declared that the prices of goods merchant prices defined in line with the normal price, the valuation was accepted as basis, or to be assessed by the Customs duty-paid price of a normal price as the basis for the valuation defined by Brussels as the standard-setting CIF. Normal price is the price of the abstract concept of species, so some people call it an abstract concept CIF (Notional Concept of CIF Value). As part of developing countries so far there is still the method of valuation the valuation defined by Brussels, the provisions of the contents of the different valuation, the valuation can be used in some countries to raise import duties, other than the formation rate of a restriction, therefore, after a "GATT" Uruguay Round of multilateral trade negotiations, some countries will still be in Brussels as the country's customs valuation valuation of defined requirements.
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