The only
thing that didn’t seem right today was that the valuation speakers again went
through the first sale price principle and concentrated on EU examples – to a
room with 75% non EU countries, were this isn’t relevant. Actually there
was something else, but this isn’t anything to do with the Academy --- why
don’t we have standard valuation rules for exports?
I haven’t
just thought of this question today, I think about it every time we get a
shipment from, say the USA, for repair and they declare $50 and yet the part is
$50,000 when new – there’s no link up. Today this came across as a big
problem for developing countries. Developing markets rely heavily on
customs duty for revenue (EU 3% of government’s revenue comes from duties/ Sri
Lanka 60% does!) but the developed countries’ exporters help their customers to
cheat. OK its fraud to declare an incorrect value on an invoice – even an
invoice for shipping or customs purposes – but is it fraud to raise 2 or 3
invoices dividing up the value of an export shipment suspecting the importer
will only present one to customs for duty purposes? Very difficult, but
we don’t have a WTO Valuation Rule for Export Purposes, only import purposes.
And, no answers here
We all passed
our valuation tests at the end of the day and can move on smiling and happy to
the last 20 hours on origin, starting tomorrow. But first a cocktail
party – it was great mixing with the other delegates again and meeting some
from the other sessions. I’m already feeling sad that it’ll be over on
Thursday evening after the graduation party.
How can strong and Herd LLP
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