Sub-Regional Workshop on Valuation
A weeklong Sub-Regional Workshop on Valuation is underway at the World Customs Organization (WCO) Regional Training Centre at Revenue and Customs Complex in Suva.
The workshop was officially opened by Chief Executive Officer, Mr. Visvanath Das who highlighted the need for developing countries to cope up with development in technology and move ahead with the rest of the world.
“Customs valuation is a core tool for customs administration around the world. Globally 98 per cent of the global trade accounts for transaction under the World Trade Valuation Agreement. This Workshop will feature a range of Customs valuation issues, including various articles of valuation, including the goods supplied under warranties, royalties, license fees and transfer pricing,” Mr. Das said.
“This workshop will deal with the nature and significance of customs valuation systems and practices and their international standardization. It will provide insights into the various case examples and examine the types of measures that could contribute to effective valuation of import shipments.”
Lead Facilitator Mr. Ian Cremer of World Customs Organization (WCO) stressed the need for striking a balance between Revenue collection and trade facilitation. “Commercial practices and processes are diversifying, pilferage of packages and e-commerce are some of the ongoing issues. Customs Officers should understand legitimate price practice especially those in the valuation area.”
Head of Regional Office for Capacity Building (ROCB) Mr. Kazunari Igarashi in his welcome speech told participants that WCO is discussing ways to support small island developing states in areas of International trade. “Manipulation of trade invoices are common occurrence and it is something that will be discussed in the workshop”.
The workshop is funded by WCO and supported by Japan Customs and ROCB. Twenty- four participants from Fiji, Tonga, Samoa, Vanuatu and Papua New Guinea are part of the workshop.