SRI LANKA IMPLEMENTS WTO CUSTOMS VALUATION

UNCLAS COLOMBO 000107

SIPDIS

DEPT PASS USTR

E.O. 12958: N/A
TAGS: ETRD ECON CE WTO USTR ECONOMICS
SUBJECT: SRI LANKA IMPLEMENTS WTO CUSTOMS VALUATION
AGREEMENT



1. Sri Lanka Customs (SLC) announced the
implementation of the WTO Customs Valuation Agreement
on January 7, 2003, and began actual implementation
January 13, ten weeks after the fourth extension for
implementation lapsed on October 31, 2002. All
importers and agents are now required to submit a
Value Declaration Form along with the Customs Good
Declaration Form.


2. With the implementation of the Customs Valuation
Agreement, SLC will apply transaction values to
imports to the greatest extent possible, similar to US
practice, in place of the normal price method used
earlier. The government of Sri Lanka has sought WTO
approval for one exemption from transaction value
method - on used motor vehicles. It plans to use
"minimum values" for valuation of used motor vehicle
imports.


3. Post expects the new valuation procedure to
standardize and streamline customs valuation in Sri
Lanka. SLC has already conducted several workshops to
train importers and their agents on the new procedure.
Ceylon Chamber of Commerce (Sri Lanka's largest
business chamber) and SLC are organizing another
seminar on January 24, 2003.
Wills