Congo Enhances Customs Valuation with WCO Support

Congo Enhances Customs Valuation with WCO Support

The World Customs Organization (WCO) is assisting the General Directorate of Customs and Excise of the Democratic Republic of Congo (DGDA) in its transition following the termination of contracts with private inspection companies. A WCO expert mission visited the DRC to help DGDA officials consolidate their knowledge, introduce new tools, and provide technical support through meetings and workshops. The aim is to establish an efficient and transparent customs valuation system, promoting economic development and integration into the global economy for the DRC.

WCO Enhances Nigeria Ghana Customs to Boost Trade

WCO Enhances Nigeria Ghana Customs to Boost Trade

With WCO support, Nigeria and Ghana jointly organized a training of trainers program on valuation, aiming to enhance customs valuation capabilities and promote trade facilitation in both countries. Following the termination of contracts with private inspection companies and the return of valuation responsibilities to customs, this training covered technical valuation, valuation control, and trainer skills. The goal is to strengthen the national valuation trainer pool in both countries, injecting new momentum into trade development in West Africa. This initiative is expected to improve valuation accuracy and efficiency, ultimately contributing to smoother trade flows.

Moldova Boosts Customs Skills with WCO Training

Moldova Boosts Customs Skills with WCO Training

The World Customs Organization (WCO) conducted a Customs Valuation workshop for Moldova Customs to enhance their valuation capabilities. The workshop covered the WTO Valuation Agreement, application of valuation databases, valuation of used goods, handling of assistance and royalties, and advance rulings. This workshop improved the professional competence of Moldova Customs officers, laying a foundation for trade facilitation. The training provided practical knowledge and skills necessary for accurate and efficient customs valuation procedures, contributing to smoother international trade flows.

Moldova Boosts Trade Compliance with Wcobacked Customs Upgrades

Moldova Boosts Trade Compliance with Wcobacked Customs Upgrades

The World Customs Organization (WCO) held a Customs Valuation Workshop in Moldova, aiming to enhance the understanding and application of the WTO Valuation Agreement among Moldovan customs officials. The workshop focused on strengthening the role of valuation databases in risk assessment, standardizing valuation procedures, and addressing challenging issues such as the valuation of second-hand goods, the determination of assistance costs, and license fees. This initiative contributes to trade facilitation and economic development by improving customs valuation practices in Moldova.

New Customs Rules Affect Licensing Fees Royalties

New Customs Rules Affect Licensing Fees Royalties

The World Customs Organization (WCO) has released new Advisory Opinion 4.19 on customs valuation, addressing the complex valuation issues related to royalties and license fees under Article 8.1(c) of the Customs Valuation Agreement. This opinion clarifies the valuation principles for single royalties encompassing both patents and trademarks. It assists businesses in accurately calculating import costs, reducing valuation disputes, and promoting the healthy development of international trade. This guidance aims to provide clarity and consistency in the application of customs valuation rules related to intellectual property rights.

WCO Implements New Trade Valuation Rules to Boost Revenue

WCO Implements New Trade Valuation Rules to Boost Revenue

The WCO Technical Committee on Customs Valuation has adopted two new advisory opinions concerning the valuation treatment of income tax in royalties and the valuation of buyer's own trademarks on imported goods. These new rules aim to enhance certainty and transparency in customs valuation, promote international trade facilitation, optimize customs revenue, and ensure the healthy development of global trade. They provide guidance on complex valuation issues, contributing to a more predictable and equitable international trade environment. The opinions seek to clarify existing valuation principles and address practical challenges faced by customs administrations and traders alike.

Moldova Boosts Customs Efficiency to Streamline Trade

Moldova Boosts Customs Efficiency to Streamline Trade

The World Customs Organization (WCO) held a Customs Valuation workshop in Moldova to enhance the country's customs expertise in customs valuation and promote trade facilitation. The workshop covered topics such as the application of the WTO Valuation Agreement, the establishment and utilization of valuation databases, the valuation of second-hand goods, the treatment of assistance and license fees, and the advance ruling system. This provided valuable learning opportunities for Moldovan customs officials.

Madagascar Customs Boosts Valuation Skills Via WCO Support

Madagascar Customs Boosts Valuation Skills Via WCO Support

The World Customs Organization (WCO) conducted an online workshop to enhance Madagascar Customs' valuation capabilities, covering valuation principles, Incoterms, the transaction value method, used vehicle valuation, and combating under-invoicing. Madagascar Customs officials actively participated, significantly improving their valuation skills. WCO experts commended their efforts and recommended strengthening valuation database development, enhancing risk management, fostering international cooperation, and continuing capacity building initiatives. This initiative aims to improve revenue collection and ensure fair trade practices in Madagascar.

Tophatters Decline Flash Sale Pioneer Faces Possible Shutdown

Tophatters Decline Flash Sale Pioneer Faces Possible Shutdown

The US e-commerce platform Tophatter rose with its flash auction model but declined due to traffic bottlenecks and inherent flaws, eventually appearing to have collapsed. Its experience offers insights for cross-border e-commerce practitioners: innovation is crucial, user experience is paramount, and adaptation to market changes and diversified strategies are necessary. Current trends in cross-border e-commerce platforms include diversification, specialization, and socialization. The Tophatter case highlights the importance of sustainable growth and adapting to evolving market dynamics in the competitive e-commerce landscape.

Banggoods Early Holiday Sale Highlights Crossborder Ecommerce Struggles

Banggoods Early Holiday Sale Highlights Crossborder Ecommerce Struggles

The 'early holiday' incident at Banggood, a major cross-border e-commerce seller, has drawn industry attention, reflecting the survival difficulties faced by cross-border e-commerce sellers. The global economic downturn and increased competition are challenging the industry. Companies need to respond actively by optimizing products, expanding channels, refining operations, and strengthening brand building to survive and develop in the fierce market competition. The incident highlights the need for resilience and strategic adaptation in the face of evolving market dynamics.