In application of Article 13.1 of the EU Council Directive 2006/112/CE on the common system of the value added tax, all orders for goods and services provided by the WCO are invoiced exclusive of VAT since the WCO is regarded as non-taxable person in respect to the activities or transactions in which it engages as public authority within its scope of activity defined in the Convention of 15 December 1950 establishing a Customs Co-operation Council, even where it collects dues, fees, contributions or payments in connection with those activities or transactions.
Questions related to Customs valuation are vital in terms of international trade development. The WTO Valuation Agreement is an international agreement which defines seven methods to determine the Customs value of imported goods.
This module presents how to apply the Fallback method. A quiz is also included to test your knowledge.