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Posts tagged with "Transaction value"

BOC orders stringent observance of valuation, proper goods description

BOC orders stringent observance of valuation, proper goods description

Nov. 23 | Image by Michael Gaida from Pixabay Customs commissioner Rey Leonardo Guerrero instructed Bureau of Customs (BOC) officials and employees to comply strictly with the basis for valuation and with the sequential application of valuation methods under the...

BOC: NVVS value a ‘reference’, not replacement for transaction value

BOC: NVVS value a ‘reference’, not replacement for transaction value

Nov. 20 | Image courtesy of IndypendenZ  at FreeDigitalPhotos.net There is no order instructing customs appraisers to favor value in the National Value Verification System (NVVS) over the transaction value, according to an official of the Bureau of Customs (BOC). BOC...

Use transaction value to assess shipments, Lapeña reminds BOC officers

Use transaction value to assess shipments, Lapeña reminds BOC officers

Sep. 9 | Customs Commissioner Isidro Lapeña has reiterated to Bureau of Customs (BOC) officials to adhere to the World Trade Organization (WTO) Customs Valuation Agreement and to use transaction value as the primary method for determining the value of shipments. The...