WCO Considering Explanatory Note on Transaction Value
The World Customs Organization recently announced that it will consider a new explanatory note on the meaning of “price actually paid or payable” for the purposes of customs valuation using transaction value. The proposed explanatory note includes information on forms…
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of payment, direct and indirect payments, adjustments, considerations based on decisions of the WTO Committee on Customs Valuation, and deductions, “such as payments not related to the goods and post-importation charges.” The note “will be submitted for approval to the WCO Council at its June 2026 Sessions,” the WCO said.