Elements and Performance Criteria
- Apply transaction valuation method
- World Trade Organization (WTO) Customs Valuation Agreement is analysed
- Valuation specific information is identified in accordance with the current Australian Customs Act as amended
- Situations where it is appropriate to apply transaction valuation method are recognised and analysed
- Situations where alternate methods of valuation apply are recognised
- Situations where there is insufficient reliable information to determine if transaction valuation method applies are identified
- Valuation is determined from import documentation in accordance with the current Australian Customs Act
- Identify import sales transaction for customs valuation purposes
- Determine transaction value
- Price in import sales transaction is identified
- Terms of trade relevant to import sales transaction are identified and analysed
- Adjusted price is calculated
- Price related costs and any other additions or deductions are determined taking into account relevant legislation and terms of specific import sales transaction
- Transaction value is calculated
- Identify factors that impact on price
- Determine customs value