What is the Customs Valuation Agreement?
The Customs Valuation Agreement is an international agreement that helps to provide a fair and uniform system of evaluating goods that are involved in international trade. The agreement is based on the 1980 United Nations Convention on Contracts for the International Sale of Goods, known as the Vienna Convention. This agreement helps to provide uniformity in the value of goods that are moving in international trade. The agreement helps to create a predictable system of evaluating goods that can be used to calculate import duties and taxes accurately. This helps to create a smoother and more efficient international trading environment. In Tennessee, the Customs Valuation Agreement is actively used to help evaluate the value of goods that enter the state. The agreement is used to ensure that all goods that enter the state are properly and accurately evaluated, so that import duties and taxes can correctly be assessed. The Customs Valuation Agreement is an important international agreement that helps to facilitate a fair and equitable system for evaluating goods that are part of the international trading system. It helps to ensure that Tennessee can effectively collect import duties and taxes on goods that enter the state. By creating this uniform system of valuing goods, the agreement helps to ensure that international trade can be conducted in a smooth and efficient manner.
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