WCO Committee Says Transaction Value Can Be Based on Deep Discount
Flash sales of deeply discounted products can be used to determine the transaction value as long as the required provisions are met, according to the World Customs Organization Technical Committee on Customs Valuation in a recently adopted advisory opinion. Similarly,…
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the committee said that "the discounted price could be used to determine the transaction value of identical or similar goods for which there is no transaction value" if other provisions are met, the WCO said in a news release. "This Advisory Opinion will be submitted to the WCO Council for approval at its Sessions of June 2019," the WCO said.