The Customs Valuation regulation gives the countries the same tax base on which to compute the tariffs to be levied on imported goods.   

With its approval of Decision 571 on December 12, 2003, the Andean Community Commission adopted the World Trade Organization’s (WTO) Agreement on Customs Valuation as the subregion’s regulation on the customs value of goods. 

In addition, in August 2004, the General Secretariat adopted Resolution 846, the Community Regulations on the application of the customs value to goods imported into the Community Customs Territory, which details the procedures for implementing Decision 571.

Work is underway to complete the existing legislation on valuation by adopting an Andean Declaration of Common Value and defining common data demanded by importers for valuation purposes.