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Valuation Of Goods

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Objective
Malaysia is a signatory to the WTO Agreement which was implemented in 1.1.2000 replacing the Brussels Definition of Value (BDV). The Seminar will provide an insight into the various valuation methods used by Customs to determine customs value for assessment of duties payable on imports.

How will you benefit?
– Participants will be able to understand the principles of valuation under the WTO Agreement for goods imported into Malaysia.
– The different valuation methods used by Customs in determining the value of imported goods for duty purposes.
– Create awareness among the business community as to the principles adopted by Customs in determining value for the purpose of imposing duties.
– Understand the importance significance of details declared in Customs Form 1A.

Key Contents
1.Introduction
– Article VII GATT
– Brussels Definition of Value
– Notional Concept
– Positive Concept

2.Structure of the Agreement
-Principles of WTO Valuation Agreement

3.Methods of Valuation
-Transaction value
-Transaction value of identical goods
-Transaction value of similar goods
-Deductive Value Method
-Computed Value Method
-Fall Back method

4.Adjustment under (Article 8)
5.Related persons (Article 15) and sale between related parties
6.Customs (Rules of Valuation) Regulations 1999
7.Rights of importer
8.Right of appeal to the Court under Section 143A Customs Act 1967
9.Preservation of records
10.Customs Form No 1A (Declaration of Value)
11.Questions & Answers

Who should attend?
This course is suitable for all importers, manufacturers, trading houses and tax consultants who are in need to know how goods are valued for customs purposes.

Trainer Profile
P. Nadaraja was formerly with the Royal Malaysia Customs (1981-1997) as a Senior Officer of Customs having served in various units and his key areas of focus includes customs administration, import and export procedures, classification, valuation, licensing and compliance matters. He posses an indepth knowledge of various customs legislations including Customs Act, Sales Tax Act, Service Tax Act, Excise Act and other subsidiary legislations. He has vast experience in Customs matters and has been a guest lecturer at the Royal Malaysia Customs Academy in Malacca on various occasions to deliver lectures on various aspects of Customs laws and procedures.

In 1997 he left the Customs Department on optional retirement for private practice as an Advocate and Solicitor.  He is now involved in legal practice and at the same a time is actively involved in conducting seminars and workshops on customs matters. He has also conducted in house training for various companies including statutory bodies and has advised and consulted upon by companies on issues such as customs and sales tax valuation, classification, service tax matters, drawback, refunds, exemptions and others. He was officially appointed by the Customs Department to conduct Basic Customs Course for forwarding agents during the year 2005 – 2007.

He is also an Associate of the Malaysia Institute of Chartered Secretaries and Administrators and an Associate Member of Chartered Tax Institute of Malaysia (ACTIM) and is currently involved in customs litigation and rendering of consultancy services on Customs matters.


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