New instrument on Customs valuation adopted at the 58th TCCV Session

The Technical Committee on Customs Valuation (TCCV) held its 58th Session in Brussels from 15 to 19 April 2024, chaired by Qianyu LIN from China and attended by around 50 delegations.

The Session was preceded by a two-week online discussion phase on the WCO CLiKC! Platform, allowing delegates to exchange opinions on specific technical questions, and laying a robust foundation for the subsequent discussions at the in-person meeting.

The 58th TCCV Session focused on eight specific technical questions covering emerging challenges in Customs valuation, including transfer pricing, e-commerce and cryptocurrency. Additionally, the Technical Committee agreed to include two new questions submitted by Uruguay and Vietnam, respectively, in the agenda for its next session.

During this session, the Technical Committee completed its examination of the technical question submitted by Guatemala on the “Meaning of the expression ‘in substantially the same quantity’ according to Articles 2 and 3 of the Agreement” and adopted a new instrument - Commentary 26.1.

This new instrument aims to develop a comprehensive understanding of the concept and meaning of the expression “in substantially the same quantity”, with a view to providing guidance to Custom administrations when applying the valuation methods set out in Articles 2 and 3 of the WTO Customs Valuation Agreement.

In the Commentary, the Technical Committee expressed the view that “substantially” should be understood as encompassing a quantity that aligns to the greatest extent possible with quantities found in previously accepted transaction values involving the same relevant commercial practices.

This Commentary will be submitted to the WCO Council for approval at its Sessions of June 2024.