Rhee, Jin-Woo, and Han-Jin Lee. "A Study on Customs Valuation of Goods Whose Major Components Owned by a Third Party Are Supplied for Production as Lease." The Journal of Korea Research Society for Customs 22, no. 4 (2021): 25-48.
-Abstact-
This study analysis the Vinyl Acetate (VA) catalyst case to determine the method for customs valuation of goods that an importer leases major components of imported goods from a third party and supplies it for production to an exporter. This case has a complex transaction structure and issues in customs valuation. This study criticizes the decision of the Ministry of Strategy and Finance that the transaction value method under the WTO Customs Valuation Agreement cannot be applied in the VA catalysts case. This study demonstrates the validity of determining the customs valuation using the transaction value given that the imported goods were sold from the exporter to the importer. Furthermore, in applying the first method, this study suggested a method of determining the transaction value paid by the importer when importing the VA catalyst by adding all costs required to rent and provide the precious metal, a production support factor. In addition, this study also suggests that if the transaction value cannot be applied for customs valuation, determination of customs value based on reasonable standards can be applied pursuant to Article 7 of the WTO Customs Valuation Agreement.
https://www.dbpia.co.kr/journal/articleDetail?nodeId=NODE11030998