Brussels Definition Of Value

Brussels Definition of Value in Global Commerce Policy

In this regard, brussels definition of value is: BDV. The entries on trade policy are here. A standard for valuing goods at the border to fix the customs duties to be paid. The entries on trade policy are here. It was developed under the auspices of the Customs Cooperation Council, now the World Customs Organization, located in Brussels. The BDV is the price goods would fetch on sale in the open market in the importing country at the time and in the place the import occurs. The entries on trade policy are here. It sets out a number of considerations aimed at arriving at a decision on whether the actual sales price of the product corresponds with the notional standard of value. The BDV has now been superseded by the methods set out in the WTO Agreement on Implementation of Article VII [customs valuation] of the General Agreement on Tariffs and Trade 1994. See also customs valuation.[1]

Brussels Definition of Valuein the wold Encyclopedia

For an introductory overview on international trade policy, see this entry.

Resources

Notes and References

1. Dictionary of Trade Policy, “Brussels Definition of Value” entry (OAS)

See Also