Course: Customs Valuation

Course ID: OC-06

This training course can be booked for the study of the Diploma in Customs Competencies. It can also be studied as a stand-alone training course. See here for information about our approach to education and training.

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What this course is all about - in a nutshell

This four-hour course is designed to help you deal with all activities required of Customs professionals that deal with the validation, calculation and performing audits in the field of the Customs value of goods in private or public Customs organisations. We will teach you about the Customs Valuation Agreement and how to handle circumstances and activities in customs valuation, including all six valuation methods, emphasising transaction value. 

Background

For customs reasons, all goods—whether purchased, returned, temporarily moved, or given away—must be appraised accurately. The must be valued, whether it is a sale or a free movement. For the purpose of customs valuation, the WTO establishes particular guidelines. The WTO Agreement's Articles, the Six Techniques of Valuation,

The course has been completely revised to include any pertinent changes to customs processes. Each delegate will get a complete set of course notes, including a comprehensive dictionary of words, as well as exercises and quizzes with bullet points.

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What we will cover in this course

In this hands-on Training, the precise guidelines outlined in the WTO Valuation Agreement and incorporated into your national legislation will be presented, as well as the distinction between intercompany pricing and customs valuation. It will show how to construct pricing for import customs purposes and which charges must be included and which may be excluded.

• Introduction: What is Customs Value?
• Customs Value as an element of establishing customs duty
• Relevant legislation regarding Customs value (e.g. Customs Valuation Agreement + national legislation). e.g. Union Customs Code, UK Taxation (Cross-Border Trade) Act 2018 and UK Customs Valuation Regulations - **this depends on the interest of the participant and will be tailored to their needs**
• Primary methods of calculating the Customs value of goods (known as the transaction value of the goods in question)
• The mandatory and optional adjustments to the transaction value (Costs that must be accounted for in the transaction value for customs' reasons, as well as "assists" and "adjustments",  costs that may be subtracted for customs-related reasons)
• The importance of "related party transactions"
• Secondary methods of calculating the Customs value of goods ( the transaction value of identical goods, the transaction value of similar goods, the deductive value, the computed value and the derivative value) are the legal basis for establishing the customs value of goods
• Transfer Pricing Agreements and the difference between transfer pricing for OECD and customs purposes
• How to set up a customs valuation implementation and operation system in companies
• How to resolve value disputes
• Advanced Valuation Rulings (AVRs) and Binding Valuation Decisions (BVDs)

Who would benefit from this course?

The worldwide sales, supply chain, accounting/finance, customs, and shipping professionals at any level may benefit from this training.

Please contact info@customsmanager.org for more information.

 

Who is the trainer/instructor?

Customs & Global Trade Expert Arne Mielken or a customs & global trade professional partner with many years of practical experience in the course subject.

Expected Outcome and Results

Upon completion of this course, you will have developed a great general awareness and thorough knowledge of:

- The concept of customs value and the applicable international and national legislation

- The different methods to calculate the customs value of goods

-  The importance of the transaction method, identifying when it does and does not apply

-  The required additions to the price, related party transactions

- Arms' Length Value under OECD and Customs 

-  The relevant partners related to customs valuation.

- How to apply for AVRs and BVDs

Quiz: Test Your Knowledge

Participants are invited to complete a Quiz after the training. If they pass with a rate of 80%, they will receive a Certificate of Completion in "Customs Value" - Level 1 - Awareness. This ascertains that you have received formal training and have met the above-mentioned outcomes and results.

Possibility to upgrade to Level 2 - Trained 

You have the possibility to achieve a Level 2 - Trained qualification with the completion of additional tasks/case studies and exercises. This will allow you to demonstrate that you are able to handle standard situations and related tasks in the field of  Customs Valuation - independently. Completing a level 2 will require you to invest an additional 2-4 hours of self-study based on a work programme with deliverables. The exercises will mimic practical daily activities in businesses.  You will receive tutor support during this study and feedback on your submissions. If you successfully complete the work programme, you can obtain a  Certificate of Completion in "Customs Value" - Level 2 - Trained. This implies that we have verified and agree that you have a good working knowledge of the concepts and systems related to the subject studied and that you are able to apply and use this knowledge in your daily activities. 

 An additional fee is payable and more time needs to be invested. Please indicate, if you like to progress to Level 2 and we will provide additional information. 

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Practical Aspects 

Course Fee

Unless you are studying for the Diploma in Customs Compliance,  individual bookings are subject to payment of a course fee. Upon signing up, an Invoice will be sent to you. Your course booking will be confirmed once payment has been received in full. 

Event Policy

This course is covered by our terms & conditions. Please review them before signing up for this course.