Intertek Advantas Valuation Information Programme
The Intertek ADVANTAS™ Valuation Information Programme brings together valuation information from around the world.
The service is based upon a vast database that is updated and added to at a rate of about 2500 line items every working day. This makes it probably the world’s most advanced and comprehensive valuation system. What is more, the updating process is based upon an informed analysis by staff trained in valuation assessment.
The system allows users to locate pricing information based upon an HS code. The key price sensitive variables associated with each code have been determined by Intertek valuation experts. The user enters the HS code, followed by information for each variable. The system then produces an acceptable price range. If the value associated with a shipment falls outside this range, it provides evidence to doubt the transaction value. This enables a Customs Administration to challenge the transactional value and increase import duty revenues whilst maintaining full compliance with the WTO/GATT Agreement on Customs Valuation.
The system is available online, through a password protected web address.
Valuation data is specific to the importing and exporting country. The Intertek service keeps the data accurate by incorporating a regular updating service targeted at the actual imports in the client country. The Intertek Valuation Database meets the Guidelines on the Development and Use of a National Valuation Database as a Risk Assessment Tool, as adopted by the WCO Council in June 2004.
- Evidence to challenge the transaction value
- Increases duty and tax revenues
- Reduces the time and costs of valuing suspect shipments
Where needed, Intertek can provide independent expert witness support where this is needed, to support a challenge in the courts.
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