Assistance in Customs Valuation
ValueQuest® is an automated system created by Cotecna designed for Customs administrations. ValueQuest® is intended to support implementation of the WTO Agreement on Customs Valuation (ACV). It aims to protect public revenue and promote trade facilitation through a transparent, impartial and systematic process applied to the valuation of goods.
Why use Cotecna’s ValueQuest® services?
ValueQuest® offers a flexible approach that enables Customs to adhere to WTO valuation methods, whilst simultaneously building capacity for Customs administrations. ValueQuest® is available under various customized business arrangements to meet your specific needs.
ValueQuest® provides the following benefits:
1. Price testing enables Customs to accurately verify declared values through systematically applying ACV rules. ValueQuest® makes maximum use of Cotecna’s price data warehouse which contains over 2.5 million live price records with details on Harmonized System (HS) Code, origin, dates, commercial terms and quality indicators. This enables Customs to determine whether there is any reason to doubt declared values of products.
2. Through value opinion & advice, ValueQuest® provides Customs a systematic and efficient means of applying valuation methods prescribed under ACV Articles 2 and 3. It makes available transaction values for similar and identical goods for comparison against each importation, as well as relevant information to ensure correct and verifiable adjustment under the ACV. Value advice provides Customs with a non-binding best estimate value for each importation based on deductive, computed or fallback methods in instances where Articles 2 or 3 cannot be applied. Value advice is highly useful in the assessment of bonds and guarantees for conditional release of goods.
3. Through ValueQuest® dispute resolution mechanism, information and expertise from Cotecna’s worldwide network of valuation centres or established resident ValueQuest® site teams examine, verify, audit and report on evidence presented in support of customs valuation.
4. Integrity of information. ValueQuest® incorporates a number of security features, ranging from a strict and secure login policy (with password) and tracking for each query in the system, allowing for more stringent controls and preventing unauthorized access to information.