Valuation

What is the primary method for customs valuation?

• Transaction Value

• Deductive Value

• Fallback Value

• Computed Value

Under Method 1, what does PAPP stand for?

• Price Actually Paid or Payable

• Price After Payment Process

• Payment Amount for Purchased Products

• Price Adjustment for Profit

When can Method 2 be used for valuation?

• When goods are not sold for export

• When there is a restriction of disposition

• When buyer and seller are related

• When conditions for Method 1 are not fulfilled

What is the key characteristic of identical goods?

• Same color and size

• Same physical characteristics, quality, and reputation

• Same manufacturer and importer

• Same price and quantity

What is the condition for using Method 4: Deductive Value?

• Goods must have been sold in the Philippines in the same condition as imported

• Goods must be produced by the same manufacturer

• Purchaser must be related to the importer

• Goods must be exported at least 90 days before importation

Under Method 5: Computed Value, what is included in the 'Other costs'?

• Customs duties, Insurance charges, Packing costs, Transport costs

• Container costs, Assists, Packing costs, Engineering costs, Transport costs

• Container costs, Assists, Packing costs, Engineering costs, Transport costs

• Assists, Packing costs, Engineering costs, Transport costs, Duties

What is the purpose of Method 6: Fallback Value?

• To reverse the order of valuation methods

• To eliminate the need for importer's request

• To provide flexibility in determining dutiable value based on previously determined values

• To calculate profit and general expenses accurately

What is the condition for using Method 3: Transaction Value of Similar Goods?

• Similar goods must be sold at different commercial levels

• Similar goods must be sold for export to the Philippines

• Similar goods must be produced by the same manufacturer

• Similar goods must be exported at least 30 days before importation

What is the adjustment made in the PAPP for mandatory addition?

• CAPET

• PAPPIT

• CARPPIT

• CTD

Under Method 1, what is the condition for 'No restriction of disposition'?

• No restrictions on sale conditions

• No restrictions on geographical area of resale

• No restrictions on sale price

• No restrictions except those imposed by law or authorities