Organizational Infrastructure Set Up and Management of Customs Valuation in Bangladesh

Abstract

The lack of understanding of customs valuation and related procedures are two principal factors affecting the efficiency of the customs administrations. The absence of effective customs valuation system influences the outcome of a country’s customs and trade policies and its revenue mobilization performance, and also encourages corrupt practices. Customs valuation has been the subject of international agreements in a view to constituting barriers to trade if not handled properly. The recommended organizational infrastructure for valuation requires the establishment of a central valuation office and regional and local valuation office with operational role if needed together with other important supporting functions such as risk management and post clearance audit. The central valuation office will be responsible for establishing valuation policy, developing procedures, supervising correct and adequate implementation and monitoring international developments in valuation. This article will recommend proper analysis and review mechanisms for Customs valuation in place to ensure the effectiveness of control procedures throughout the customs territory. Procedures must be kept under review and adjusted from time to time to meet evolving demands.