Interactive forum on customs valuation

Tuesday, 9 September 2014 01:51 -     - {{hitsCtrl.values.hits}}

The Ceylon Chamber of Commerce will hold an interactive forum on customs valuation on 11 September at the Chamber auditorium in collaboration with Sri Lanka Customs. The forum, which will be held from 9 a.m. to 12 p.m., will be addressed by M. Ravindrakumar, who has a decade of Sri Lankan experience in the customs valuation process. Ravindrakumar has functioned as a member of the Customs Task Force engaged with the implementation of the provision of the World Trade Customs Valuation Agreement in Sri Lanka. He has represented Sri Lanka on many occasions in the deliberations of the World Customs Organization (WCO) Technical Committee on Customs Valuation. In recognition of his vast knowledge and rich experience on Customs Valuation, Ravindrakumar has been accredited by the WCO as a facilitator in its capacity building programs. The participants for this forum will have an opportunity to learn more details on the following important areas of valuation, such as, Need of a Valuation System, Rights & Obligations of an importer, Changes – Customs (Amendment) Act No. 2 of 2003, Correct Procedure, WTO Customs Valuation, HS Ruling, Green Channel and Case Studies. International trade is regulated by the World Trade Organization (WTO). Valuation of merchandise in imports and exports is an essential aspect of International Trade. Observance of established principles of valuation helps therefore in the smooth flow of goods across the borders. In keeping line with this, the Import Section of the Ceylon Chamber of Commerce in association with Sri Lanka Customs will organise an interactive forum to educate the trade on essential knowledge on customs valuation on merchandise imports. Commenting on the upcoming forum, Import Section Chairman Dinesh De Silva stated that this area is always very critical for everyone in the industry, who is impatiently waiting until the goods are cleared from customs for production or for consumers etc. In this context when the shipments are detained on queries on valuation, it is not only causing long delays for clearance, but ends up with additional duties or severe penalties or legal action which is detrimental to your business as these unexpected costs can put you out of business. Therefore, awareness of proper valuation is mandatory for the industry. In our day to day operations the importers face a lot of issues due to not knowing the correct procedure on valuation and wrong declaration. Therefore, this forum is mainly designed to clear many aspects by enhancing the knowledge on valuation. In addition, participants can discuss their issues at the panel discussion. The forum is targeted for importers, shipping professionals, forwarders, logistics providers, supply chain specialists and all personnel involved in international trade. For registration and information contact the Secretariat, Import Section on 5588871, 5588880, email: