Peru - Changes to customs valuation procedures 

The resolution, published in the official gazette (Diario Oficial El Peruano) on 25 October 2012, includes changes to the valuation procedures concerning:

• Transportation costs
• Security contracts
• Verifying the value declared at customs
• The valuation of goods as a method of last resort

Read a November 2012 report (Spanish) [PDF 32 KB] prepared by the KPMG member firm in Peru: Modifican el Procedimiento Específico “Valoración de Mercancías según el Acuerdo del Valor de la OMC” INTA-PE.01.10ª (Versión 6) (R.S.N.A.A. N° 487-2012/SUNAT/A)

In general, the KPMG report notes that Circular No. 251 provides:

• Regardless the place where payment is made, expenses relating to transportation are part of the freight or FOB value of the value declaration.
• The “terminal handling charge” now will be part of the freight charge (for customs valuation purposes) only when the container handling services are provided during a transshipment, at an intermediate point in the journey of the goods from the point of shipment and the destination.
• In situations when the insurance contract stipulates a minimum premium, and this payment represents the actual payment made or to be made, this amount must be reported as insurance expenses.
• In general, for the verification of the value declared at customs, the customs officer may use as reference a price indicator registered in SIVEP (i.e., the customs authority’s system) or in other means, or a reference price and this corresponds to an identical or similar good in the same country of origin / shipment exported to Peru.
• The reference used must meet certain conditions, in a specific order corresponding to the same supplier at the same time; corresponding to other providers at the same time; corresponding to the same supplier in an approximate time; or corresponding to other providers in an approximate time. The “approximate time” may be earlier or later. In the instanes of the “approach equality” factor, the earlier reference is preferred. If several references apply, it will be used the one with the lowest value.
• For valuation of used goods by method of last resort, it would be taken into account solely and exclusively the following: (1) the price of the goods when they are new in the year of manufacture, applying a depreciation for use of 10% per year up to a maximum of 50%, with the price derived from the commercial invoice; (b) the reference price of identical or similar goods when new, applying the same depreciation of the previous case, with the price obtained from the SIVEP indicators, price lists, journals, quotes, internet information, and other references of such goods in the year of manufactured; (3) the reference price of identical or similar used goods obtained from journals, catalogs, among others, without depreciation; (4) the estimated price of an independent expert of the buyer and seller, being that this cost will be borne by the importer.