Transaction Value

Transaction value in Global Commerce Policy

In this regard, transaction value is: a method for valuing goods to be imported for the purpose of assessing the customs duties payable. The entries on trade policy in the Encyclopedia are here. Under the WTO Agreement on Implementation of Article VII [customs valuation] of the General Agreement on Tariffs and Trade 1994, it is the price actually paid or payable for the goods when sold under competitive conditions for export to the country of import. This method is based on the Brussels Definition of Value developed under the auspices of the Customs Cooperation Council, now the World Customs Organization. See also customs valuation.[1]

Transaction valuein the wold Encyclopedia

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

Resources

Notes and References

1. Dictionary of Trade Policy, “Transaction value” entry (OAS)

See Also