Computed value method for customs valuation introduced, permitting computed and deductive values with reversible application order. Amendments add a defined computed value method (rule 7A) to customs valuation, defining it as the sum of production cost, an amount for profit and general expenses consistent with export sales of the same class or kind from the exporting country, and other expenses under rule 9(2). A new rule 6A fixes the order of application between deductive and computed values, permitting reversal at importer request with proper officer approval. Schedule notes require producer-supplied cost data consistent with accepted accounting principles and limit use chiefly to related-party situations where verification is possible.
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Computed value method for customs valuation introduced, permitting computed and deductive values with reversible application order.
Amendments add a defined computed value method (rule 7A) to customs valuation, defining it as the sum of production cost, an amount for profit and general expenses consistent with export sales of the same class or kind from the exporting country, and other expenses under rule 9(2). A new rule 6A fixes the order of application between deductive and computed values, permitting reversal at importer request with proper officer approval. Schedule notes require producer-supplied cost data consistent with accepted accounting principles and limit use chiefly to related-party situations where verification is possible.
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